Canopius, the London-based global specialty re/insurer announced it is opening an office in Sydney, Australia, as part of its commitment to expand in the Asia-Pacific region.
Subject to regulatory approval, the local entity will be open to underwrite business in time for the June 30 renewal season, said Canopius in a statement.
The Sydney operation will provide a local underwriting hub for business in Australia and New Zealand, targeting a combination of business from small and medium-sized enterprises via coverholders, wholesale direct and facultative, as well as reinsurance treaty business.
The new office will be led by Claudio Saita as Canopius’ country manager Australia & Pacific. Saita will become a member of the newly established Canopius Asia Pacific leadership team. He reports to Mark Newman, CEO APAC & MENA.
Previously, Saita was deputy CEO and executive director of Tokio Marine Management Australasia, which he joined in June 2008.
“I am delighted that Claudio has joined us. His significant experience and knowledge will help us as we pursue further growth in this priority market,” commented Newman. “Claudio has forged excellent distribution relationships, often built around modern technology, which will be a differentiator for Canopius as we target profitable business throughout the Pacific region.”
Saita said “the region presents significant opportunities for committed and locally empowered carriers that embrace technology….”
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