Press release
The acquisition strengthens Sompo’s workers’ compensation franchise with expanded capabilities, distribution reach and scale in the US market.
HAMILTON, Bermuda, July 7, 2026 – Sompo International Holdings Ltd. today announced a definitive agreement to acquire Service Insurance Companies, one of the nation’s leading specialists exclusively focused on workers’ compensation insurance, by one of its US subsidiaries. The transaction is subject to certain regulatory and other customary closing conditions.
Service Insurance Companies brings together a differentiated distribution platform, “best-in-class” claims capabilities, and a complementary focus on the small and medium-sized enterprise (“SME”) segment. This acquisition creates a compelling opportunity to broaden Sompo’s underwriting capabilities and presence across products, customer segments and distribution channels within the attractive SME market and General Agents marketplace.
“Together with Service Insurance Companies’ seasoned leadership team and proven workers’ compensation platform, Sompo is establishing a top-tier flagship for our workers’ compensation business,” said Chris Sparro, Chief Executive Officer, North America, Sompo Commercial P&C Insurance. “This brings a tremendous opportunity to deliver even greater long-term value to our clients, distribution partners and stakeholders – further advancing our differentiated position in the U.S. commercial insurance market.”
“We are thrilled at the opportunity to align with Sompo’s North America leadership team, financial support and strong market presence. Together with Sompo, Service Insurance Companies is better positioned to extend the reach from a monoline workers’ compensation provider into a diversified commercial insurance organization with enhanced scale, capabilities and amplified market relevance,” stated Brad Davis, current President of Service Insurance Companies, who will continue leading the business for Sompo.
Terms of the transaction are not being publicly disclosed.
Advisors
Guy Carpenter Capital & Advisory, a division of MMC Securities LLC, is serving as exclusive financial advisor to Sompo. Mayer Brown LLP is serving as legal advisor to Sompo.
Howden Capital Markets & Advisory is serving as exclusive financial advisor to Service Insurance Companies. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Service Insurance Companies.
About Service Insurance Companies
Founded in 1982, Service Insurance Companies specializes in workers’ compensation coverage. Offering a range of services including underwriting, claims management, and loss control, Service Insurance Companies helps support clients and their employees.