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Japan insurer Sompo plans to sell UK unit Canopius -source
September 1, 2017 / 5:26 AM / in 3 months

Japan insurer Sompo plans to sell UK unit Canopius -source

TOKYO, Sept 1 (Reuters) - Japanese insurer Sompo Holdings Inc is planning to sell its UK unit Sompo Canopius to private equity firm Centerbridge Partners, a source with direct knowledge of the deal said on Friday.

The Nikkei business daily said the Japanese property and casualty insurer was planning to sell Canopius for more than 100 billion yen ($909 million).

Sompo bought Canopius, a Lloyd’s of London insurance market player, for about $1 billion in 2014. ($1 = 110.0400 yen) (Reporting by Taiga Uranaka; Editing by Chris Gallagher)

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