{"id":10176,"date":"2025-10-03T06:32:42","date_gmt":"2025-10-03T06:32:42","guid":{"rendered":"https:\/\/www.advantagego.com\/en-us\/?p=10176"},"modified":"2025-10-03T06:32:45","modified_gmt":"2025-10-03T06:32:45","slug":"voi-podcast-with-ken-reily-ceo-of-sompo-apac","status":"publish","type":"post","link":"https:\/\/www.advantagego.com\/en-us\/content\/voi-podcast-with-ken-reily-ceo-of-sompo-apac\/","title":{"rendered":"Sompo\u2019s Asia-Pacific growth strategy, with Ken Reilly"},"content":{"rendered":"\n<p><iframe title=\"Ep270 Ken Reilly Sompo: Capturing growth\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=embed&amp;i=k89ka-1979e50-pb&amp;share=1&amp;download=1&amp;fonts=Tahoma&amp;skin=3267a3&amp;font-color=auto&amp;rtl=0&amp;logo_link=episode_page&amp;btn-skin=1b1b1b&amp;size=150\" loading=\"lazy\"><\/iframe><\/p>\n\n\n\n<p><strong>Sompo\u2019s Ken Reilly says local empowerment, underwriting discipline and protection gap opportunities define the re\/insurance group\u2019s strategy across Asia Pacific.<\/strong><\/p>\n\n\n\n<p>The transformation of Japan\u2019s largest insurers into global operators has gone relatively unremarked in the western reinsurance world but is one of the defining stories of recent decades.<\/p>\n\n\n\n<p>Few embody this new wave internationalisation more than Ken Reilly, CEO of insurance for Sompo in Asia Pacific, who now also oversees the company\u2019s Japanese commercial division.<\/p>\n\n\n\n<p>Reilly sees Sompo\u2019s internationalisation as a striking change.<\/p>\n\n\n\n<p>\u201cFlip back 10 years ago and Sompo was largely a domestic organisation. Today it is truly global, with over $30bn in P&amp;C premiums,\u201d he said.<\/p>\n\n\n\n<p>Speaking on the Voice of Insurance podcast, hosted by Mark Geoghegan in association with AdvantageGo, Reilly described his 30-year international career.<\/p>\n\n\n\n<p>From New York to London, Bermuda, Hong Kong, Tokyo and now Singapore, his experience has shaped his approach to running such a diverse portfolio.<\/p>\n\n\n\n<p>\u201cI just crossed the 30-year line in the industry, which is a bit of a shocker. Having had the opportunity to work in the core markets early in my career really shaped what laid ahead,\u201d Reilly said.<\/p>\n\n\n\n<p><strong>Asia Pacific scale<\/strong><\/p>\n\n\n\n<p>Reilly outlined Sompo\u2019s footprint across 11 markets, with regional headquarters in Singapore and long-established licences across the wider region.<\/p>\n\n\n\n<p>\u201cIn some of the markets, we\u2019ve been there for 50 years. Sompo is not a foreign name. It\u2019s an established brand that represents resilience and stability,\u201d he explained.<\/p>\n\n\n\n<p>The business writes around $1bn in premium across its majority-owned operations, he noted, with more coming from its joint ventures in India, Vietnam and the Philippines.<\/p>\n\n\n\n<p>Together, Sompo employs more than 4,000 people across the region.<\/p>\n\n\n\n<p>\u201cOur consumer markets are focused where we can achieve scale, in areas like motor, health and home insurance,\u201d he said.<\/p>\n\n\n\n<p>\u201cOn the commercial side, we use a hub-and-spoke model centred in Singapore, with local underwriters empowered in Hong Kong, Malaysia, Thailand and elsewhere,\u201d Reilly continued.<\/p>\n\n\n\n<p>This balance is critical to resilience, Reilly stressed.<\/p>\n\n\n\n<p>\u201cWe are very conscious of our geographic and product mix. The key is to be agile, to keep bureaucracy out, and to be there when opportunities arise,\u201d he added.<\/p>\n\n\n\n<p><strong>Global ambitions, local empowerment<\/strong><\/p>\n\n\n\n<p>Reilly credited Sompo\u2019s internationalisation to both organic growth and its acquisition of rival carrier Endurance.<\/p>\n\n\n\n<p>But he emphasised that Asia Pacific expansion across so many markets requires sensitivity to each country\u2019s distinct culture and regulatory environment.<\/p>\n\n\n\n<p>\u201c[We are] regionally aligned but locally empowered,\u201d he explained. \u201cIt\u2019s not a one-size-fits-all approach. We must respect the nuances of each country while bringing in global best practices.\u201d<\/p>\n\n\n\n<p>That alignment allows knowledge-sharing across markets. \u201cWhat we learn the hard way in one country, that knowledge should be transferred to another,\u201d Reilly said.<\/p>\n\n\n\n<p><strong>Specialist not generalist<\/strong><\/p>\n\n\n\n<p>Asked whether Sompo aims to be a generalist in new markets, Reilly had a clear response.<\/p>\n\n\n\n<p>\u201cWe don\u2019t want to be everything for everyone. Our approach has pivoted to a specialist approach over the last five to 10 years, and that\u2019s starting to pay dividends,\u201d he said.<\/p>\n\n\n\n<p>Sompo draws on its domestic Japanese experience, spanning 130 years, but adapts its focus market by market.<\/p>\n\n\n\n<p>\u201cWe know what we\u2019re good at, we know what we\u2019re not good at, and we adjust accordingly,\u201d he said.<\/p>\n\n\n\n<p><strong>Opportunities and risks<\/strong><\/p>\n\n\n\n<p>Singapore and Hong Kong were highlighted as core growth markets, with specialist underwriters hired to build commercial strength.<\/p>\n\n\n\n<p>The insurer continues to expand in emerging economies such as India and Vietnam, where under-insurance and protection gaps remain large.<\/p>\n\n\n\n<p>\u201cThere\u2019s still plenty of growth opportunities even in mature markets,\u201d he said. \u201cBut <a href=\"https:\/\/www.advantagego.com\/en-us\/content\/insurtech-maintain-discipline-hardening-market\/\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.advantagego.com\/en-us\/content\/insurtech-maintain-discipline-hardening-market\/\" rel=\"noreferrer noopener\">underwriting discipline<\/a> always remains centre stage. We\u2019re not just focused on growth, but on profitable growth.\u201d<\/p>\n\n\n\n<p>He acknowledged broader risks, from the rising trend of import tariffs and supply chain disruptions to extreme weather caused by climate change and online cyber threats.<\/p>\n\n\n\n<p>\u201cIt\u2019s about being analytical and staying ahead of emerging risks,\u201d he said.<\/p>\n\n\n\n<p><strong>Lessons for the West<\/strong><\/p>\n\n\n\n<p>Reflecting on what Western insurers might learn, he pointed to Asia-Pacific\u2019s openness.<\/p>\n\n\n\n<p>\u201cThere\u2019s no hesitation to learn from other markets to avoid making the same mistakes. That willingness to adapt and the sense of loyalty in customer relationships are real strengths,\u201d he said.<\/p>\n\n\n\n<p>Customer loyalty in Asia is another differentiator for the commercial insurer, he suggested.<\/p>\n\n\n\n<p>\u201cOnce clients understand the commitment and the value we provide, there isn\u2019t a tendency to jump ship every 12 months. The stickiness in certain segments is strong,\u201d Reilly said.<\/p>\n\n\n\n<p>\u201cIt\u2019s exciting to be part of this growth story,\u201d he said. \u201cPeople want to be part of Sompo\u2019s journey. Our global ambitions are supported by a parent that continues to empower us to build a truly international organisation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sompo\u2019s Ken Reilly says local empowerment, underwriting discipline and protection gap opportunities define the re\/insurance group\u2019s strategy across Asia Pacific. The transformation of Japan\u2019s largest insurers into global operators has gone relatively unremarked in the western reinsurance world but is one of the defining stories of recent decades. Few embody this new wave internationalisation more [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[19,26],"tags":[14],"line-of-business":[28,20],"class_list":["post-10176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts","category-latest-insights","tag-underwriting-workbench","line-of-business-general-liability","line-of-business-property"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/10176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/comments?post=10176"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/10176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media\/10093"}],"wp:attachment":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media?parent=10176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/categories?post=10176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/tags?post=10176"},{"taxonomy":"line-of-business","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/line-of-business?post=10176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}