PEMBROKE, Bermuda, March 06, 2023 (GLOBE NEWSWIRE) — Sompo International, a leading global provider of commercial and consumer property and casualty (re)insurance, has named Nicolas Burnet as new Chief Financial Officer (CFO) and member of the executive team, effective March 7. Mr. Burnet reports to James Shea, CEO for Sompo International, and is based in Boston, Massachusetts.
Mr. Burnet takes over from Michael McGuire, who after 20 years with Sompo International, formerly Endurance Specialty, has decided to step down from his role as CFO.
“It has been a great pleasure working with Mike since I joined Sompo in 2021 and I’ve seen up close his dedication and passion to lead with our core values and put our people, clients and trading partners at the center of everything we do,” James Shea said. “Mike has been integral to the growth of our organization and has played a key role in bringing us to where we are today. I thank him for his exceptional contributions and am pleased he will remain with us to support the transition process and to consult with me on various strategic initiatives.”
Mr. Burnet comes to Sompo International from Partner Re where he most recently served as CFO. Prior to that, he spent nearly 16 years with Zurich Insurance Group in various leadership positions, including Group Head of Planning and Performance Management, CFO for General Insurance and Global Life CFO. He began his career in financial services with various companies including Neuberger Berman, JP Morgan and Price Waterhouse.
Mr. Burnet holds a bachelor’s degree in finance from Saint Joseph’s University, PA, United States, and a master’s degree in business administration from Cornell University’s Johnson Graduate School of Management, NY, United States.
“I am very pleased to welcome Nick to Sompo. With his considerable expertise and strong background from multiple financial positions overseeing both P&C and Life business on a global basis, Nick will play a key part in driving our ambitious growth plans and shaping the future of our company. He is a well-known and dedicated leader in the insurance industry who will make an immediate impact,” commented James Shea.
Nicolas Burnet shared, “I’m thrilled to join Sompo International at such an important time in the organization’s growth journey. I’m looking forward to building on its record of exceptional delivery in close collaboration with the leadership team and colleagues globally.”
About Sompo International
Sompo International refers to Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries. Sompo International is a leading global provider of commercial and consumer property and casualty (re)insurance. Sompo International Holdings, Ltd. is an indirect wholly owned subsidiary of Sompo Holdings, Inc. (“Sompo Holdings”). With approximately 10,000 employees at Sompo International, 75,000 employees total worldwide, entities in over 46 countries and over $36B in GPW, Sompo Holdings is one of the leading property and casualty insurance groups in the world. Sompo Holdings maintains excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on its principal operating subsidiaries. For more information about Sompo International, follow us on Linked In or please visit www.sompo-intl.com.