Press Release

Press Release

Sompo International Expands Global Clearwater Partnership to Service Additional Asia Pacific Entities

Tuesday, June 9, 2020

BOISE, Idaho — Clearwater and Sompo International announced today that Sompo International has expanded its partnership with Clearwater to include consolidated book of record accounting for additional international entities in more than six countries.

Sompo International is a specialty provider of property and casualty insurance and reinsurance with an extensive global footprint, sound financial strength, broad licensing capabilities, diverse products and distribution networks, and market-leading technology. 

Clearwater provides automated investment data aggregation, reconciliation, and validation to Sompo International’s teams around the world, which gives them access to timely and consistent portfolio information to drive greater transparency and insight. Clearwater’s multi-currency and multi-asset class investment accounting provides customized general ledger entries for Sompo International’s global portfolio. 

Sompo International onboarded its international entities to Clearwater in the first quarter of 2020. Countries include Singapore, Indonesia, Malaysia, Thailand, Turkey, and Brazil. Additional entities will be brought on throughout 2020, including Hong Kong and other domiciles. The newly onboarded entities represents an expansion of Clearwater’s partnership with Sompo International that began in 2017 when Sompo International was established through the acquisition of Endurance Specialty Holdings Ltd. by Sompo Holdings, Inc.

“Clearwater is a valuable asset and essential tool for us as we focus on global scalability,” said Carrie Rosorea, Chief Accounting Officer for Sompo International. “Clearwater’s ability to handle multiple accounting bases and currencies and automate regulatory reporting allows us to expand our business around the world while maintaining a single solution for investment accounting and reporting.”

“Our clients’ success is our top priority, so we are pleased to see the significant strides Sompo International has made recently,” said Gayatri Raman, Head of International Business at Clearwater. “Clearwater stands ready to help firms handle the complexity of global portfolios and strengthen their ability to expand and move into new markets internationally.”

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About Sompo International

Sompo International Holdings Ltd. (Sompo International) is a global specialty provider of property and casualty insur-ance and reinsurance, headquartered in Bermuda. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. For more information about Sompo International, please visit www.sompo-intl.com.

About Clearwater Analytics

Clearwater Analytics is a global SaaS solution for automated investment data aggregation, reconciliation, accounting, and reporting. Clearwater helps thousands of organizations make the most of their investment portfolio data with a world-class product and client-centric servicing. Clearwater offers a full complement of middle- and back-office solutions like trade confirm/affirm, client billing, composite management, client statements, and more.

Each day, the Clearwater solution reports on more than $4 trillion in assets for clients that include American Family Insurance, Arch Capital, Aureum Re, Cisco, CopperPoint Mutual Company, C.V. Starr & Co., Facebook, J.P. Morgan, Knights of Columbus Insurance, Oracle, Selective Insurance, Sirius Group, Sompo International, Starbucks, Unum Group, WellCare Health Plans, Wilton Re., and many others.

Since its founding in 2004, Clearwater has provided a cloud-native solution that helps investors make the most of their data. Investment professionals in 49 countries trust Clearwater to deliver timely, validated investment data and in-depth reporting.

Additional information about Clearwater can be found at www.clearwater-analytics.com
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Contact: Alex Goochey (US) | +1 208 489 3909 | agoochey@clearwateranalytics.com
Laura Adams (UK) | +44 203 3147794 | ladams@clearwateranalytics.com