Change aimed at maximising growth opportunities following Sompo acquisition

Canopius has divided its marine and energy unit into two divisions.

The Lloyd’s insurer said the split is designed to maximise growth opportunities after Canopius’s acquisition by Japanese insurer Sompo, part of the NKSJ group.

The marine division will continue to be headed by Joyce Webb, who joined Canopius in 2004.

The energy division will be led by Steve Warren, who has been promoted to divisional underwriter. He joined Canopius in 2006.

Webb and Warren will report to Canopius global specialty chief executive 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.” 

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