MISSION
To Deliver Superior & Sound Insurance with Risk Management Solutions Designed Around a Specific Client's Needs.
VISION
To Be The Premiere Source of Insurance Worldwide Through Continuous Innovation, Investment, and Development.
VALUES
Integrity Always, Customer-First for All Engagements & Employee Satisfaction with Every Decision.
ABOUT US
Mitigating Risk. Empowering Global Operations.
Established in 2007, Southern Pacific Insurance Corporation (SOPAC) has emerged as a premier independent provider of insurance and reinsurance solutions. Recognising the underserved insurance needs of outlying U.S. territories, SOPAC has strategically expanded its footprint across the Pacific, Caribbean, and beyond. Their comprehensive risk management expertise encompasses the United States, Europe, Africa, the Middle East, Asia, and South America, solidifying their position as a trusted partner for businesses operating on a global scale.
SOPAC operates with a centralised office in Pago Pago, American Samoa, ensuring a dedicated team of professionals readily available to address specific requirements. Additionally, a U.S. office in Louisiana, USA, facilitates seamless communication within the States. This strategic dual presence underscores SOPAC's unwavering commitment to exceptional service for both domestic and international clientele.
SOPAC's core strength lies in its ability to deliver comprehensive insurance and reinsurance solutions across a diverse range of industries. Some of SOPAC’s specialised focus includes:
Marine Insurance: SOPAC safeguards maritime ventures by offering tailored insurance coverage for vessels, cargo, and other related interests. Whether a seasoned shipping industry veteran or an emerging player, SOPAC possesses the unparalleled expertise to navigate the inherent risks associated with marine operations.
Surety Bonds: SOPAC's surety bond solutions provide a robust financial guarantee mechanism, ensuring the successful completion of contractual obligations. This mitigates risk for project owners and fosters an environment of trust within business partnerships.
Commercial Insurance: SOPAC extends its offerings beyond marine and surety to provide a comprehensive suite of commercial insurance products. It may encompass business insurance and property insurance to safeguard physical assets, liability insurance to protect against potential legal claims or other business-specific insurance needs.
Beyond a Diverse Product Portfolio: SOPAC recognises that a comprehensive range of insurance products is just one facet of effective risk management. By positioning itself as a one-stop shop for businesses seeking tailored solutions, SOPAC streamlines the process and ensures all possible client’s risk management needs are addressed.
Furthermore, SOPAC leverages the strength of top-rated insurance and reinsurance markets. This crucial mechanism helps distribute the risk associated with larger policies, guaranteeing their capacity to meet a clients specific insurance requirement.
SOPAC's unwavering commitment to global reach, diverse product offerings, and robust risk management strategies make them an invaluable partner for businesses of all sizes operating internationally.
OUR STORY
A History of Global Growth
Southern Pacific Insurance Corporation (SOPAC) boasts a rich 18-year history of providing insurance solutions with a global perspective. Founded by Mr. Russell Wilson, a U.S. Marine Corps veteran, SOPAC emerged from a recognized need. During his service, Mr. Wilson observed a gap in insurance support for American-affiliated territories in the South Pacific and Caribbean.
Driven by a commitment to serving these underserved markets, Mr. Wilson established SOPAC in American Samoa in 2007. The company's initial focus was on providing much-needed commercial insurance capacity in the South Pacific region.
Expansion and Diversification:
SOPAC's success and commitment to excellence fueled rapid expansion. Over time, the company strategically broadened its market focus to encompass the Caribbean, Mainland US, Europe, Africa, the Middle East, Asia, and South America. This global reach demonstrates SOPAC's dedication to offering comprehensive insurance solutions across diverse markets.
A Unique Structure Fostering Growth:
SOPAC stands out within the insurance industry as an employee-owned company. This ownership structure has fostered a strong work ethic and a culture of exceptional client service. This dedication to customer satisfaction has undoubtedly contributed to SOPAC's impressive track record.
Impressive Growth Trajectory:
SOPAC's commitment has translated into remarkable financial growth. The company has achieved a remarkable feat of 100% year-on-year increases in net written premiums for the past five consecutive years. This impressive growth is further supported by a significant increase in their Balance Sheet Capital, reaching $315,920,084.
Strong Regulatory Compliance and Future Expansion:
SOPAC prioritises regulatory compliance and operates with a strong foundation. The company holds registrations and/or authorisations in numerous jurisdictions, including American Samoa, the U.S. Virgin Islands, several US states, and the National Association of Insurance Commissioners (NAIC). Additionally, SOPAC supports Surety markets in the UK and New Zealand while adhering to their respective regulations. Demonstrating its commitment to further expansion, SOPAC currently has applications pending in the Australia, Guam, and the Federated States of Micronesia.
Building Trust in Reinsurance:
Throughout its history, SOPAC has earned the trust and recognition of numerous African insurance companies. These companies have accepted SOPAC as an approved reinsurance security, highlighting SOPAC's strong financial standing and commitment to providing reliable reinsurance solutions.
WHO WE ARE
Company Name: Southern Pacific Insurance Corporation
Established: 2007
Address: P.O. Box 997868, Pago Pago, American Samoa
Mailing Address: 113 Blue Ridge Road, DeRidder, Louisiana 70634 USA
NAIC Registration Number:15659
Structure: Excel Group Holdings, Inc.
Operations: Southern Pacific Insurance Corporation is domiciled in American Samoa with a fully staffed office in Pago Pago and DeRidder, Louisiana.
Marketing: Directly In American Samoa. Internationally Through Licensed Agents and Brokers In The United States of America, Europe, Asia, New Zealand and the Wider South Pacific.