Canopius creates distinct marine, energy divisions

Canopius Group Limited announced the separation of its existing marine and energy unit into two dedicated divisions. The creation of the distinct divisions is designed to maximise the growth opportunities available to Canopius following its acquisition by leading Japanese insurer, NKSJ, through its principal subsidiary Sompo Japan Insurance, Inc.

The marine division will continue under the leadership of Joyce Webb, who joined Canopius in 2004, and will focus on developing Canopius’s marine liability, cargo, specie and hull lines of business. Steve Warren who was promoted to divisional underwriter, will lead the energy division. They will report directly to Global Specialty CEO, Stephen Gargrave.

Gargrave said: “The combination of Canopius’s expertise in specialty lines underwriting and NKSJ’s financial strength and additional geographic reach presents us with tremendous potential for growth. The creation of dedicated Marine and Energy divisions is a logical step that will allow us to focus more effectively on our ambitions in both of these markets. The energy sector in particular is an area in which we have identified significant scope for expansion from hubs in the US, Middle East and Asia as well as in Latin America.”