SOMPO Holdings has successfully completed its acquisition of Aspen Insurance Holdings Limited, acquiring 100% of Aspen’s Class A ordinary shares. The deal follows the initial $3.5 billion agreement announced in August 2025.

Mikio Okumura, CEO of the Sompo Group, described the closing as a “key milestone” in Sompo’s strategy to drive profitable growth, deploy capital strategically, and expand a globally diversified property and casualty (P&C) platform. Aspen will now operate under the Sompo Group umbrella and begin transitioning to the Sompo brand.

As part of the leadership changes, Mark Clutier, formerly a senior leader at Aspen, will move into an advisory role with Sompo. While Aspen’s Class A shares have ceased trading on the New York Stock Exchange, its preference shares will remain listed, with their rights and terms unchanged.

James Shea, CEO of Sompo P&C, highlighted the strategic value of the acquisition, noting that Aspen’s reinsurance and insurance portfolios, combined with an expanded presence in the UK, strengthen Sompo’s global P&C footprint. He emphasized a commitment to investments in people and technology while preserving Aspen’s underwriting culture and customer focus during the integration.

Credit rating agency AM Best noted that the acquisition could provide “material benefits” to Sompo’s business profile and accelerate its geographic diversification in the global P&C re/insurance market. The move aligns with Sompo’s long-term objectives of expanding scale, diversification, and service excellence across international markets.