A wholly owned subsidiary of Sompo International Holdings Ltd. (SIH) has finalized its $3.5 billion acquisition of Aspen Insurance Holdings Ltd., taking the insurer private.
Under the terms of the deal, which was first announced in August 2025, 100% of Aspen’s issued Class A ordinary shares have been purchased and the company will cease to trade on the New York Stock Exchange. Aspen has now become a wholly owned subsidiary of Endurance Specialty Insurance Ltd., a unit of SIH. Both are wholly owned subsidiaries of Sompo Group.
(Sompo acquired Endurance Specialty Holdings in 2017 for US$6.3 billion as a global platform to focus on growth mainly in the U.S. and Europe.)
Aspen now will come under the umbrella of Sompo Group and will transition to trading under the Sompo brand. Mark Cloutier, Aspen’s former executive chairman and group chief executive officer, will act in an advisory role to Sompo.
“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,” according to Mikio Okumura, CEO of Sompo Group, in a statement.
“This transaction continues our commitment to invest in and grow our global P&C footprint through market cycles,” commented James Shea, CEO of Sompo P&C.
“The addition of Aspen’s reinsurance and insurance portfolios along with a more substantial presence in the UK enable us to accelerate our commitments to our customers, people and shareholders,” Shea continued. “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.”
In a separate announcement, Sompo announced the appointment of Sarah Stanford as CEO of Sompo UK, following today’s completion of its Aspen acquisition.
Stanford, who has been CEO, Aspen UK, since March 2024, will now lead all of Sompo’s UK P&C Insurance operations. She reports to Alessa Quane, CEO, International Markets and will continue to be based in London.
Her appointment is effective immediately, subject to regulatory approval.
Stanford succeeds Bob Thaker who will leave Sompo later this year to pursue other opportunities. Thaker will support Stanford over the next few months to ensure a smooth transition.
Regarding the advisers to the insurers for the acquisition, Sompo said that Morgan Stanley & Co. LLC served as its exclusive financial adviser, while Skadden, Arps, Slate, Meagher & Flom LLP was the company’s legal adviser. Oxbow Partners served as integration consultants, and Kekst CNC served as strategic communications counsel to Sompo.
Goldman Sachs & Co. LLC. served as Aspen’s lead financial adviser, joined by Insurance Advisory Partners LLC, which also served as Aspen’s financial adviser. Sidley Austin LLP served as legal adviser to Aspen.
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