Chairman Michael Watson will become executive chairman
Sompo Canopius Group chief executive Stuart Davies is stepping down from his role at the company.
Chairman Michael Watson will become executive chairman.
He will be supported by group chief underwriting officer Mike Duffy and group financial and operating officer Paul Cooper.
Davies joined Sompo Canopius in 2015. He was previously the managing director of AEGIS London, a subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited).
Canopius rebranded to Sompo Canopius following its acquisition by Japanese insurer Sompo in December 2013.
Davies said, “It has been a pleasure to lead Sompo Canopius as group chief executive and I would like to thank everyone for their support and hard work.
“The team at Sompo Canopius is full of talented and knowledgeable people and I wish them all the best.”
Watson added: “I would like to thank Stuart for his dedication to the success of Sompo Canopius since he joined in 2015. His commitment and enthusiasm have been evident from day one and he leaves the group in a strong position.
“The board and I respect his decision to move on and we wish him every success in the future. At the same time, I have great confidence in Mike Duffy and Paul Cooper and the rest of our highly experienced management team.
“I look forward to working with them as we continue to build Sompo Canopius into a world-class global specialty (re)insurer.”