Canopius, the global specialty and property/casualty re/insurer, announced it has appointed Andy Haste as its new group chairman with effect from July 1, 2024.
He will assume responsibility for chairing the group board as Canopius embarks on realizing its future ambition, following its record 2023 results, the company said in a statement.
Haste brings a wealth of executive and non-executive experience to the role. His former roles include group chief executive of RSA Insurance Group, and CEO at AXA Sun Life, as well as serving as senior independent director and deputy chairman of Lloyd’s for nine years, between 2012 and 2021. Haste also currently chairs the board of Esure Group PLC which he has done since March 2020.
Haste will take over from current Canopius Group Chairman and company Founder Michael Watson, who will stand down but continue to support Canopius in an advisory capacity.
The appointment of a new chairman comes after a record year for Canopius in 2023, with the business demonstrating growth and profitability across all three business regions – the UK, U.S. & Bermuda and APAC. It posted profits after tax of $363 million, and a 22% increase in insurance contract written premium to $2.8 billion.
“On behalf of the Canopius’s shareholder board, I am pleased to welcome Andy Haste. His seasoned industry expertise and stewardship will help Canopius in its next growth phase,” according to Ben Langworthy, Canopius shareholder board director. “We also wanted to thank Michael Watson for his dedication over the last 20 years at Canopius as founder, CEO and most recently as non-executive chairman, making Canopius a leading global specialty player.” (Langworthy is also senior managing director and co-head of Europe at Centerbridge, Canopius Group’s majority shareholder).
Canopius is a global specialty and P/C re/insurer with underwriting operations in Australia, Bermuda, Singapore, the UK and US. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Ltd.); Canopius US Insurance Inc. (a US surplus lines insurer); and Canopius Reinsurance Ltd. (a Bermuda-based Class 4 reinsurer).
Source: Canopius
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