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Japan insurer Sompo plans to sell UK unit Canopius - source

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Japan insurer Sompo plans to sell UK unit Canopius - source

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TOKYO (Reuters) – Japanese insurer Sompo Holdings Inc <8630.T> 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 (703.01 million pounds). Sompo bought Canopius, a Lloyd’s of London insurance market player, for about $1 billion in 2014.

(Reporting by Taiga Uranaka; Editing by Chris Gallagher)
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