Sompo Holdings Finalizes Acquisition of Aspen, Transitioning to Private Ownership

A wholly owned subsidiary of Sompo International Holdings Ltd. (SIH) has successfully completed its $3.5 billion acquisition of Aspen Insurance Holdings Ltd., effectively taking the insurer private.

According to the terms of the deal, which was first announced in August 2025, 100% of Aspen’s issued Class A ordinary shares have been acquired, leading to the company’s delisting from the New York Stock Exchange. Aspen is now a wholly owned subsidiary of Endurance Specialty Insurance Ltd., a unit of SIH, both of which are part of the Sompo Group.

Sompo previously acquired Endurance Specialty Holdings in 2017 for US$6.3 billion, establishing a global platform aimed at growth primarily in the U.S. and Europe.

With this acquisition, Aspen will operate under the Sompo brand. Mark Cloutier, Aspen’s former executive chairman and group chief executive officer, will transition into an advisory role within Sompo.

The $3.5 billion transaction, which was initially announced in August 2025, is expected to finalize in the coming days.

“Today marks an important milestone in our strategy to continue Sompo’s plans for profitable growth, to deploy capital strategically, and to ensure a globally diversified property & casualty (P&C) platform. I am pleased to welcome the Aspen team to Sompo,” stated Mikio Okumura, CEO of Sompo Group.

James Shea, CEO of Sompo P&C, added, “This transaction reinforces our commitment to invest in and expand our global P&C footprint through various market cycles.” He emphasized that the integration of Aspen’s reinsurance and insurance portfolios, along with a stronger presence in the UK, will enable Sompo to enhance its commitments to customers, employees, and shareholders. “We look forward to welcoming our new colleagues and continuing to build our global portfolio through investments in people and technology. Aspen’s culture of underwriting and customer focus will ensure a smooth transition as we engage as one organization with our customers and partners,” Shea remarked.

In a related announcement, Sompo appointed Sarah Stanford as CEO of Sompo UK, effective immediately following the completion of the Aspen acquisition. Stanford, who has served as CEO of Aspen UK since March 2024, will now oversee all of Sompo’s UK P&C Insurance operations. She will report to Alessa Quane, CEO of International Markets, and will remain based in London.

Stanford succeeds Bob Thaker, who will depart from Sompo later this year to pursue other opportunities. Thaker will assist Stanford during the transition period to ensure a seamless handover.

Regarding the advisers involved in the acquisition, Sompo disclosed that Morgan Stanley & Co. LLC acted as its exclusive financial adviser, while Skadden, Arps, Slate, Meagher & Flom LLP served as the legal adviser. Oxbow Partners provided integration consulting, and Kekst CNC was engaged as strategic communications counsel to Sompo.

On the other hand, Goldman Sachs & Co. LLC was the lead financial adviser for Aspen, supported by Insurance Advisory Partners LLC. Sidley Austin LLP served as legal adviser to Aspen.

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Mergers & Acquisitions

A wholly owned subsidiary of Sompo International Holdings Ltd. (SIH) has successfully completed its $3.5 billion acquisition of Aspen Insurance Holdings Ltd., effectively taking the insurer private.

According to the terms of the deal, which was first announced in August 2025, 100% of Aspen’s issued Class A ordinary shares have been acquired, leading to the company’s delisting from the New York Stock Exchange. Aspen is now a wholly owned subsidiary of Endurance Specialty Insurance Ltd., a unit of SIH, both of which are part of the Sompo Group.

Sompo previously acquired Endurance Specialty Holdings in 2017 for US$6.3 billion, establishing a global platform aimed at growth primarily in the U.S. and Europe.

With this acquisition, Aspen will operate under the Sompo brand. Mark Cloutier, Aspen’s former executive chairman and group chief executive officer, will transition into an advisory role within Sompo.

The $3.5 billion transaction, which was initially announced in August 2025, is expected to finalize in the coming days.

“Today marks an important milestone in our strategy to continue Sompo’s plans for profitable growth, to deploy capital strategically, and to ensure a globally diversified property & casualty (P&C) platform. I am pleased to welcome the Aspen team to Sompo,” stated Mikio Okumura, CEO of Sompo Group.

James Shea, CEO of Sompo P&C, added, “This transaction reinforces our commitment to invest in and expand our global P&C footprint through various market cycles.” He emphasized that the integration of Aspen’s reinsurance and insurance portfolios, along with a stronger presence in the UK, will enable Sompo to enhance its commitments to customers, employees, and shareholders. “We look forward to welcoming our new colleagues and continuing to build our global portfolio through investments in people and technology. Aspen’s culture of underwriting and customer focus will ensure a smooth transition as we engage as one organization with our customers and partners,” Shea remarked.

In a related announcement, Sompo appointed Sarah Stanford as CEO of Sompo UK, effective immediately following the completion of the Aspen acquisition. Stanford, who has served as CEO of Aspen UK since March 2024, will now oversee all of Sompo’s UK P&C Insurance operations. She will report to Alessa Quane, CEO of International Markets, and will remain based in London.

Stanford succeeds Bob Thaker, who will depart from Sompo later this year to pursue other opportunities. Thaker will assist Stanford during the transition period to ensure a seamless handover.

Regarding the advisers involved in the acquisition, Sompo disclosed that Morgan Stanley & Co. LLC acted as its exclusive financial adviser, while Skadden, Arps, Slate, Meagher & Flom LLP served as the legal adviser. Oxbow Partners provided integration consulting, and Kekst CNC was engaged as strategic communications counsel to Sompo.

On the other hand, Goldman Sachs & Co. LLC was the lead financial adviser for Aspen, supported by Insurance Advisory Partners LLC. Sidley Austin LLP served as legal adviser to Aspen.

Related:

Topics
Mergers & Acquisitions