TOKYO : Sompo Holdings Inc will place more focus on integrating domestic and overseas operations for further growth after a spell of acquisitions abroad boosted the global presence of Japan's No. 3 non-life insurer group, a senior executive said.
"Now that our non-life insurance business overseas has grown almost to the size of the domestic business, we no longer have to differentiate strategies for overseas and domestic operations," he said. It also bought five more companies over the last five years, including U.S. agriculture insurance company Diversified Crop Insurance Services in 2020.
To deepen integration within the group, it plans to globalise capital allocations and product launches, as well as to conduct analyses of risks on a global basis such as cyber attacks, he said.