Sompo acquires Fator to expand Brazil insurance business

The target specialises in property surety and financial lines for corporate clients.

Sompo International Holdings Ltd. has agreed to acquire Fator Seguradora in Brazil through a wholly owned subsidiary, the company said.

The acquisition is part of Sompo’s strategy to expand its presence in Brazil’s corporate insurance market, particularly in specialised insurance lines with higher-value solutions.

Fator Seguradora focuses on corporate insurance and business risk management, with expertise in property, surety and financial lines.

Sompo, a wholly owned company by Japanese insurance conglomerate Sompo Holdings, is currently amongst the five largest insurers in Brazil in the corporate and agribusiness insurance segments.

Until regulatory approval is completed, the two companies will continue to operate independently, with no changes to their operations or commercial activities.