Canopius celebrates success & future in Bermuda

Canopius Group Limited (“Canopius”), a leading specialist (re)insurance underwriting business, held a reception to mark its history of growth and celebrate its commitment to the Bermuda market. The event, which took place at the Masterworks Museum of Bermuda Art on 20 February, was attended by Dr. Grant Gibbons, Minister of Economic Development and Education, Bob Richards, Minister of Finance, Gerald Simons, Bermuda Monetary Authority Chairman, key industry and business leaders as well as members of the Canopius Group senior executive, including Chairman and Chief Executive Michael Watson.

Since its launch in 2007, Canopius Bermuda has built an impressive track record with consistent growth in its underwriting capacity and has become an established presence in the Bermuda market. The office has continued to grow and currently employs a team of 10, the majority of whom are Bermudian. In addition to on-going business expansion, Canopius Bermuda is a committed participant in a number of community programmes including the Sunshine League, with Canopius Bermuda Senior Insurance Executive Annemarie Tobin serving as the organisation’s Chairperson.    

Speaking at the reception, Stephen Hartwig CEO of Canopius Bermuda said, “We are delighted to host this reception to celebrate our partnership with Bermuda. Since we established our office here seven years ago, our business in Bermuda has gone from strength to strength, due, in no small part, to its highly positive business climate.  We are looking forward to further growth, continued success and an active role in the Bermuda community.”

Canopius Group Chairman and Chief Executive Michael Watson commented, “Over the past 10 years, Canopius Group has grown into one of the largest Managing Agents in Lloyd’s and our Bermuda office has played a key role in our success. With the announcement of our acquisition by leading Japanese insurer NKSJ Holdings and becoming its specialty insurance platform, Canopius is well placed to continue our strategy of profitable growth, and our presence in Bermuda is a central part of our growth plan in mature specialty markets.”

In his remarks, Minister Gibbons noted, “Companies like Canopius are very much in our hearts as a government...you have boots on the ground here” and cited the high percentage of Bermudian staff, commitment to training and community involvement. “We really appreciate that level of support to the community and Bermudians as well. In closing he wished the company well in its transition and said, “We are delighted you are in Bermuda.”