Canopius announced it has promoted Stephen Pike as head of Credit & Political Risk (CPR) team, part of the Credit, Political & Crisis (CPC) division, effective immediately.
Pike joined Canopius as an underwriter in CPR in 2017 from ED&F Man Capital Markets where he co-led the build-out of their global trade finance business. He began his career at Merrill Lynch, focussing on M&A and then leveraged finance, before moving to a special-situations hedge fund where he traded corporate debt, restructured businesses and managed those businesses to growth.
Pike reports to Bernie de Haldevang, who oversees CPR as the overall Head of Credit, Political & Crisis (CPC) at Canopius.
Pike will lead the CPR team, further developing its proposition across Europe and internationally. His appointment underlines Canopius’ commitment to CPC as a key area of focus for the group, which following its 2019 merger with AmTrust, has one of the largest teams in the Lloyd’s market.
“I am very pleased to announce Stephen’s appointment as we look ahead to the unparalleled prospects emerging in the post-COVID era. Becoming one of the younger team leaders in the market to lead a team of this size, Stephen has made a remarkably fast and effective transition from banker to insurer and is able to leverage his experience in banking and capital markets to the mutual advantage of our clients and ourselves,” said de Haldevang.
“This underlines our preferred approach of supporting and developing subject matter experts, and working with them to shape the client proposition, as they naturally better understand the clients we aim to serve,” he added.
“Financial instability throughout the corporate environment due to the COVID-19 induced recession will increase demand from our clients,” said Pike. “As we saw following the last financial crisis, this increased appetite will provide opportunities to those underwriters who are able to offer clear solutions in an uncertain market….”
Domiciled in Jersey (one of the Channel Islands), Canopius is a global specialty re/insurer with underwriting operations in Australia, Bermuda, China, Netherlands, Singapore, the UK and US. It underwrites through Lloyd’s Syndicates 4444 and 1861 (managed by Canopius Managing Agents Limited) and a US surplus lines insurer, Canopius US Insurance, Inc.
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