Canopius Group Corporate Milestones
Key developments at a glance
2010
- Acquisition of the business of KGM Underwriting Agencies and the management of Syndicate 260. Provision of capital to underwrite 59% of Syndicate 260's capacity from July 2010 onwards.
- Promotion of Stephen Manning to Managing Director, Canopius Managing Agents Limited. Gaynore Moss, Chief Actuary joins CMA Board.
- Promotion of Mike Duffy and Stephen Gargrave to Joint Active Underwriters of Syndicate 4444; Jim Giordano to resume oversight role of Canopius Managing Agents Limited's underwriting.
- Launch of Construction and Engineering Account
2008
- Canopius Underwriting Limited - a UK service company - established to support Syndicate 4444
- Syndicate 4444 upgraded to Standard & Poor's Lloyd's Syndicate Assessment of 3-/stable
- Raised additional £60m equity from Englefield Capital
- Acquired economic interests in Syndicate 839
- Recruited Crisis Management team in London
- Established Canopius Ireland to source structured reinsurance solutions opportunities for Canopius Bermuda Limited
- Established Canopius Asia to underwrite Asian treaty reinsurance for Syndicate 4444, operating under Lloyd's Asia platform.
- Stephen Manning appointed Chief Operating Officer of Canopius Managing Agents Limited
2006
- Commenced writing Global Property account to capitalise on post-Katrina rate environment
- Acquired Creechurch Managing Agency and Syndicates 1607 and 3786.
- Raised additional £15m equity from Englefield Capital
- Issued $20m Senior Notes
2004
- Established Syndicate 4444 with stamp capacity of £230m
- Commenced writing North American Property and expanded Cargo capabilities with recruitment of new teams
- Raised additional £10m equity capital from Englefield and issued €12m Senior Notes
2009
- Retirement of Clive Watson, Chief Executive Officer of Canopius Managing Agents Limited. Michael Watson resumes role with effect from 1st October pending recruitment of permanent successor
- Tim Carroll appointed as Underwriting Director for Canopius Managing Agents Limited and Active Underwriter, Syndicate 4444
2007
- Management restructure: Michael Watson to focus on role as Chairman of Canopius Group and Jim Giordano on his role of Group Chief Underwriting Officer and Head of newly-created International division; Clive Watson appointed Chief Executive of Canopius Managing Agents Limited
- Arista Insurance, an MGA writing UK SME package business and 55% owned by Canopius, commenced underwriting
- Canopius Bermuda Limited, a Class 3A reinsurance company established
- Canopius Underwriting Bermuda Limited, an underwriting agency for Syndicate 4444, established to write excess casualty and treaty property business
2005
- Trebled size of North American Facilities account by acquiring underwriting team and renewal rights to Alea London portfolio
- Issued $40m Senior Notes
2003
- Raised £25m equity capital (net) for MBO of a Lloyd's business
