Sompo Canopius Names Banez as Head of US Financial & Professional Lines

July 18, 2016

Sompo Canopius AG announces has hired Laurie Banez as head of U.S. financial and professional lines. Banez is based in the New York office and reports to Stephen Hartwig, group head of casualty.

She joins from Argo Pro with nearly 30 years of underwriting experience in directors & officers, errors & omissions and related lines.

Banez began her career with National Union Fire Insurance Co. (AIG) where she spent 13 years in various underwriting roles. She then moved to Kemper where she assisted in the start up of its professional lines platform, moving with it to AXIS in 2000. In 2006 she joined Praetorian Financial Group where she was responsible for the launch and development of management and professional lines underwriting business. Between 2007 and 2009 she then set up the financial lines group for C.V. Starr, before moving to Argo Group US where for six years she was senior vice president, head of US Professional Lines and chief underwriting officer.

The company said her appointment signals Sompo Canopius’s growing commitment to U.S. casualty, as it looks to diversify its portfolio into more non-catastrophe related business.

Mike Duffy, chief underwriting officer, commented: “When considering expanding in U.S. casualty, we wanted to be sure that we did so in the right way and with the right people. With Laurie, we have found someone who has an impressive track record of starting up and growing profitable books of business. She has a great reputation in the market, and we’re pleased that she sees the growing potential of Sompo Canopius in the U.S.”

Source: Sompo Canopius

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