Canopius Group Limited, the global specialty insurance and reinsurance unit of Sompo Holdings, has made changes to its U.S. management line-up, including naming Mike Duffy as executive chairman of U.S. operations.
Duffy’s appointment follows the recently announced retirement of Jim Giordano as executive chairman of U.S. operations.
Duffy’s appointment as Giordano’s successor is in addition to his current role as CEO, Global Property. This move extends his responsibility to include oversight of Canopius US Insurance Inc. (CUS) and Canopius Underwriting Agency Inc.
At the same time, Andrew Fowles, who was most recently deputy divisional underwriter, North American Facilities in London, has been appointed president and chief underwriting officer for CUS. Fowles will report to Steven Bird, who is appointed group head of North American Facilities. Fowles succeeds Wayne and Laura Bates who founded CUS and are leaving Canopius.
In order to enhance profitable growth opportunities for CUS, Canopius said it has increased its capital in CUS to more than $100 million.
Was this article valuable?
Here are more articles you may enjoy.