Canopius Group AG, a Zurich-based global specialty lines platform of Sompo Japan Nipponkoa Insurance, has hired Ivan Breen as senior vice president of its U.S. Direct Property team.
Breen is based in New York and will report to Bradley Winfield, head of U.S. Direct Property.
Ivan previously led the Property & Casualty team at Willis Bermuda. At Canopius, he will contribute to the expansion and growth of the U.S. property book, which focuses on large property risk.
Canopius said Breen’s appointment reinforces Canopius’s commitment to Direct & Facultative Property (D&F), a class of business in London, and now part of the development of Canopius’s U.S. operations. The team also includes Janet Curran, assistant vice president, who joined from Allied World where she was senior underwriter in reinsurance.
Canopius said it is now able to offer expanded capacity of up to $20 million per U.S. property risk, including critical catastrophe, for 2016. This is separate capacity to the D&F account written in London, and the high excess property business written by Canopius’s sister company in North Carolina, Sompo America. On a combined basis, the three platforms can offer up to $65 million in risk capacity and $57.5 million in catastrophe capacity, on a per risk basis.