Markets/Coverages: Canopius Expands Into US Excess Casualty Market
Canopius Group, the London-based specialty re/insurer, announced the strategic expansion of its U.S. casualty business with its entry into the domestic U.S. excess casualty market on Canopius U.S. Insurance Co. paper.
Canopius said the move underscores its commitment to expanding its footprint in the U.S. insurance sector and enhancing its casualty capabilities.
As a key part of this expansion, Canopius has appointed Jude DiBattista as U.S. head of Excess Casualty. DiBattista brings over three decades of casualty experience in the E&S market segment, along with a strong background in building profitable casualty portfolios.
“The E&S excess casualty market has become one of the fastest-growing markets in the insurance industry and this rapid growth has provided an opportunity for Canopius to enter the market and offer a specialized solution for our customers,” commented Laurie Banez, head of Casualty, U.S. & Bermuda. “Under Jude’s leadership, we’ll deliver underwriting excellence and innovative risk-based solutions for our wholesale distribution partners.”
Canopius’ entrance into the U.S. excess casualty market will be focused on commercial risks, with a specialized approach in niche verticals, such as construction, commercial real estate, hospitality, manufacturing, and technology. This expansion across a broad range of niche sectors highlights Canopius’ dedication to empowering its partners in the U.S. surplus lines insurance sector to compete effectively.
“It’s an honor and a privilege to be part of the Canopius organization, and I am very excited about the opportunity to build this team and product offering from the ground-up,” said Jude. “I am also thrilled with the company’s commitment to expand into the rapidly growing excess casualty surplus lines market. Our vision centers around providing comprehensive products tailored to diverse clients, competitive terms and conditions, and niche underwriting expertise our partners will value. The ultimate goal is to enhance our value proposition and make a significant impact within the market.”
Canopius underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Ltd.); Canopius US Insurance Inc. (a U.S. surplus lines insurer); and Canopius Reinsurance Ltd. (a Bermuda-based Class 4 insurer). The company has underwriting operations in Australia, Bermuda, China, Singapore, the U.K., and the U.S.
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