Canopius CUO Duffy to Retire Next Year
Canopius Group, the London-based global specialty re/insurer, announced that, after nearly 17 years of service, Group Chief Underwriting Officer Mike Duffy will retire in 12 months’ time.
Duffy joined Canopius in January 2006 as head of direct and facultative (D&F) property, progressing during his tenure to serve as chief executive officer of Canopius Managing Agents, before he became group CUO.
During his more than 40-year insurance career, Duffy has held numerous roles in the London market and also worked abroad, most notably in New York.
Duffy will remain at Canopius for the next 12 months to oversee an orderly transition to his successor – to be announced in due course – and will leave in May 2023.
“Mike has had a hugely significant impact on Canopius during his time, helping to shape the thriving company it is today. He has also mentored and supported the careers of many underwriters in our market,” commented Neil Robertson, group chief executive officer, Canopius Group.
“On behalf of our leadership team and all at Canopius, I would like to express our huge thanks for his many efforts and continuing contributions, and we shall reserve our fond farewells for next year.”
Canopius has underwriting operations in Australia, Bermuda, China, Singapore, the UK and U.S. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Ltd.), a U.S. surplus lines insurer, Canopius US Insurance Inc. and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer.
AXA XL Promotes Baker to Head of Construction, UK & Lloyd’s
AXA XL has promoted Al Baker to head of Construction, UK & Lloyd’s market, effective immediately.
In his new role – which he has been carrying out on an interim basis since September 2021 – Baker will be responsible for leading AXA XL’s construction business for the UK & Lloyd’s region and driving its strategic, profitable development.
“Al is already a valued member of the senior construction team, and I’m delighted that he’ll be taking on responsibility for leading our UK construction business. Al has been with AXA since 2010, so has built up a solid reputation within the business, in addition to a wealth of industry knowledge,” commented Anish Jadav, CUO, Retail P&C, UK & Lloyd’s.
Baker is a seasoned insurance executive and chartered civil engineer, with extensive experience across distribution and construction. He joined Carillion PLC in 2002 as an engineer and undertook various engineering and construction roles while gaining Chartered status.
He joined AXA Matrix Risk Consultants as a construction risk consultant in 2010, before moving to Paris with AXA Corporate Solutions as global infrastructure practice leader in 2015. In 2019, he joined AXA XL, where he was promoted several times before assuming his current position.
Baker has a post graduate Diploma in Business Management (DIBM) from Aston Business School and a Bachelor of Engineering in Civil Engineering with Architecture from the University of Leeds. He has also acted as a mentor for three cohorts of Lloyd’s Lab insurtech startups.
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