Being close to the market and able to make decisions locally is our real advantage in Iberia

You’ve taken on the leadership role for Spain and Portugal after several years leading distribution across Europe. What have you learned from that experience that you’re now applying to Iberia, and what opportunities do you see here that may not have been as visible before? 

Before taking on my current role as Country Manager for Iberia three years ago, I focused on distribution across Europe. That experience confirmed something very clear to me: Europe is not a single market. We can speak of “Europe” as one region, but in practice, each country has its own nuances — not only in terms of regulation, but also culture, customer expectations, and decision-making styles. 

I am fortunate to be able to apply this directly in Iberia by strengthening local autonomy and ensuring that our teams combine deep market knowledge with the international reach and global perspective that clients increasingly expect. In addition, we have regional and global leaders who understand this need and actively support local decision-making. Around 90% of day-to-day decisions are made locally, which allows us to be fast, agile, and solution-oriented, without sacrificing the solidity, knowledge, and financial strength of a global organization. 

Sompo has strengthened its presence in Spain with offices in Barcelona and Madrid and a clear strategy for expansion in Continental Europe. What specific role should Iberia play within the group’s European strategy in the coming years? 

Yes, that is correct: Iberia is an important market for Sompo in Continental Europe, and for good reason. Thanks to the long-standing presence of Japanese companies in Catalonia, Barcelona was selected many years ago as one of Sompo’s European hubs for its Japanese business. That history has given us solid roots and lasting relationships in the market. Today, with offices in Barcelona and Madrid, we are building on that foundation with a broader local platform. 

At the same time, each European country plays a distinct role, and it is the combination of these roles that creates the right “mix.” Iberia allows us to build a solid and diversified portfolio, supported by stable relationships and good risk distribution, complementing markets where business may focus on fewer but larger risks. 

Regarding large risks, how would you define the current balance between capacity, risk appetite, and technical discipline in Europe? Are we facing a market that is easing up again, or does it still require a high degree of selectivity? 

There is undoubtedly softening in some parts of the European market, and Spain has also felt this change. Capacity has returned in certain areas and competition has intensified, but not uniformly. When you look at the details, risk appetite remains highly segmented. Property risks exposed to natural catastrophes, complex industrial risks, and cyber risk accumulation are good examples of areas where the market remains cautious and where technical considerations are being brought into the process earlier and earlier. 

Ultimately, each insurer must decide whether to follow the market’s downward trend or stand firm on what it considers technically sound. In our case, we remain selective — not because we want to slow down, but because our goal is to be a stable and trusted long-term partner. Large-risk insurance does not tolerate short-term thinking: if you relax underwriting discipline too soon, you end up paying the price, especially given the volatility we are seeing in weather, supply chains, cyber risk, and the broader economic environment. 

Your company emphasizes underwriting, claims, and risk engineering as key differentiators. In practice, what must an insurer offer today to be truly useful to a large-risk client? 

To be honest, many insurers can present very similar portfolios on paper. For a large-risk client, the difference usually lies in practical terms: in the ability to respond proactively, with agility and consistency. 

This is particularly evident in three areas. The first is agility and clarity in day-to-day operations: clients and brokers expect quick responses and transparent reasoning. This is where the value of local autonomy comes into play, because we make most decisions close to the market, eliminating unnecessary layers. 

The second is claims management, which is the true moment of truth. When a loss occurs, the client values a partner who responds quickly, is practical, and helps move things forward without friction. 

The third is risk engineering, where value can be added even before anything happens: through experienced risk engineers close to the risk, actionable recommendations, and a genuine connection between risk engineering, underwriting, and claims. 

Ultimately, what really makes the difference is how easy it is to work together and how reliably we respond when it truly matters. 

Sompo talks about retaining and attracting local talent in Iberia. In such a technical market, what skills do you consider essential for growing successfully in Spain and Portugal? 

Experience and technical expertise are essential for large risks: you need people who thoroughly understand the exposures and underwrite with discipline. But beyond that, what makes a team strong is its mindset. 

Just as we are selective in a softer market, we are also selective when bringing in talent. We look for constructive people with an entrepreneurial mindset and a sense of responsibility — people who do not hide behind processes and who naturally work in a solution-oriented way with brokers, clients, and colleagues. That spirit is very important to us and, honestly, it is part of what makes our team in Iberia special. 

Then there is the other side of sustainable growth: it is not just about underwriting more, but about scaling without compromising quality. That is why the balance between underwriting, claims, operations, and distribution is key. If the “engine room” remains strong, service becomes consistent — and consistency is what builds long-term trust. 

With more than 30 years in the industry and experience in distribution, underwriting, and business development, what structural changes do you think will transform large-risk insurance in Europe over the next three to five years? 

Another structural change we will continue to see is consolidation — among insurers as well as among distributors and service providers. That can bring scale and efficiency, but it can also create more distance from the customer. That is why, among other things, we place a strong emphasis on keeping decision-making close to the market and remaining accessible, even as platforms become larger and more complex. 

And, of course, AI and data-driven insurance will transform many parts of the value chain: how we assess risk, how we manage portfolios, how we process claims, and what capabilities we need internally. Closely tied to this is the growing focus on data quality, governance, and reporting requirements. Better decisions are made, and better outcomes are achieved for the customer, only if the data and processes are sound. For me, the goal is not to pursue technology for its own sake, but to use it to improve the fundamentals. 

Despite all of this, I still believe that the differentiating factor remains very human: staying close to clients and brokers, listening carefully, and being consistent over time. In markets such as Spain, that personal connection is not outdated; it is often what makes the difference between being a capacity provider and being a long-term partner. 

First published by AGERS