LONDON – 17 January 2024– Canopius Group, a leading global specialty (re)insurer, has today launched a new investment management product for asset managers. The product has been developed to respond to shifts in the risk landscape in the highly regulated asset management sector.
In an era where financial markets are increasingly volatile and regulatory scrutiny is intensifying, this product offers a robust safety net.
It offers protection for asset managers from a range of financial liabilities. Cover includes directors and officers liability, civil liability and financial crime, and can be extended to legal liability for private equity and venture capital firm representatives on portfolio companies.
The product has been designed to respond to a range of scenarios specific to the asset management sector. This includes extradition defence costs, protection for directors against claims arising from management of the fund and will also automatically extend to include cover for any new fund launches.
Matthew Carr, Head of FINPRO at Canopius, said: “As the asset management industry continues to navigate an increasingly challenging regulatory landscape, the demand for comprehensive cover has never been greater. Our product sets a new standard by drawing upon our extensive underwriting experience. We are delighted to launch this product to support our expansion in this important market segment.”
Alois Rouffiac, Chief Underwriting Officer UK, said: “Our product is the latest example of Canopius’ growth ambition. By identifying niche sectors of the market where we have recognised expertise, we will maintain and accelerate our growth momentum. Supported by a market-leading claims team, this new offering will pave the way for the expansion of our market share in the asset management sector.”
Read more about our Investment Management Insurance here.
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