The partnership between AgriSompo and Atlas will result in launching new insurance products for agribusinesses and growers in Portugal
Bermuda-based insurer Sompo partners with Atlas. (Credit: Pixabay/David Mark.)
Speciality insurance provider Sompo International’s agriculture platform, AgriSompo has formed a partnership with Atlas Segurmina, a Portuguese managing general agent, to provide new crop insurance solutions to the agricultural sector in Portugal.
AgriSompo is an integrated underwriting, technology and distribution platform offering both traditional and new insurance, reinsurance and financial products to agriculture businesses around the world.
Atlas claims to have deep crop insurance expertise, with strong connections to the Portuguese and EU Crop market.
The new insurance products will address the changing needs of farmers in the country
The partnership between AgriSompo and Atlas will initially offer a variety of traditional crop insurance products and later expand into new products and coverages to help address the changing needs of farming operations in Portugal.
AgriSompo chairman and Sompo International global agriculture senior vice president Kris Lynn said: “In addition to increasing AgriSompo’s presence in key agriculture markets worldwide, this new partnership will enable us to introduce innovative agriculture products and technologies tailored to this region.
“By combining Sompo International’s experience developing leading-edge crop insurance products with ATLAS’ strong network and reputation in the Portuguese crop market, we will deliver meaningful solutions that address the evolving insurance needs of these clients.”
Using Sompo’s broad licencing, AgriSompo’s clients have direct access to its agricultural experts who offer tailored solutions to each client’s bespoke needs and risk exposures.
ATLAS CEO Frederico Bernardino said: “Sompo International’s extensive agriculture insurance capabilities and breadth of products, will enable ATLAS to provide enhanced risk solutions to the Portuguese agriculture community.
“We look forward to working closely with Sompo International and the AgriSompo team to expand and increase our offerings, providing additional value to our mutual clients.”
In February 2019, Sompo announced that its subsidiary A&A, an Italian agriculture insurance broker that was acquired in 2018, now operates as a multi-mandate insurance agency.
As an agent of Sompo, A&A now offers a wide range of agriculture products for Italian growers and agribusinesses.