Lloyd's insurer Canopius has formed UK retail insurance division with Tim Rolfe as its chief executive.
In connection with the change, the company has also announced the departure of Colin Hart as chief executive of motor specialist KGM, which Canopius bought last year. Neil Manvell will be appointed active underwriter of KGM Syndicate 260, subject to Lloyd's approval.
Canopius's new UK retail unit will account for around 30% of the overall group's gross written premiums. It will write five lines of UK business: household, specialist property/niche personal lines, commercial combined for the SME sector, casualty (including accident & health and professional indemnity) and motor (including personal, commercial and specialist vehicles).
Canopius's new retail division will also serve as an interface to the company's distribution channels: Arista Insurance and K. Drewe/Look Insurance.
Rolfe, who was appointed head of UK retail strategy last October, will report to Canopius's group chief underwriting officer Jim Giordano.
“Bringing together our UK underwriting and distribution businesses into a single structure led by Tim Rolfe as chief executive, UK retail, will enable us to fully leverage our existing capabilities and focus on delivering specialist products that meet our target customers’ needs. This will ensure that this significant part of the group develops into a successful and sustainable UK retail franchise which adds further value to our clients and shareholders.”
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