Law Debenture appointed as security trustee by Sompo Japan Nipponkoa Insurance Inc
12 January 2016
Sompo Japan Nipponkoa Insurance Inc. (“Sompo”) is among Japan’s largest property and casualty insurance companies in terms of premiums written on a stand-alone basis. Sompo has a UK branch and is authorised by the UK PRA to carry out contracts of insurance.
Law Debenture has been appointed as Security Trustee by Sompo pursuant to a security arrangement implemented to ensure compliance by Sompo’s UK branch with the Solvency II Directive (2009/138/EC) which came into effect in the UK on 1 January 2016.
Law Debenture has a number of long-standing relationships with UK and non-UK insurers and is regularly mandated by such clients both as security trustee acting for the benefit of large numbers of policyholder beneficiaries and as note trustee and security trustee in capital markets bond issues.