Global specialty insurer and reinsurer, Canopius has announced that it will launch a new office in Sydney, Australia, as it targets expansion in the Asia Pacific region.
Subject to regulatory approval, the new, local entity is expected to open in time to underwrite business for the June 30th renewal season.
Providing a local underwriting hub for Australia and New Zealand business, the Sydney operation will target a combination of SME business through coverholders, wholesale direct and facultative, and also reinsurance treaty business, explains Canopius.
The new office is to be led by Claudio Saita as Country Manager Australia & Asia Pacific, and who will also become a member of the newly formed Canopius Asia Pacific leadership team. He joins from Tokio Marine Management Australasia, where he was most recently Deputy Chief Executive Officer (CEO) and Executive Director.
In his new role, he will report to Mark Newman, CEO APAC & MENA, who commented: “I am delighted that Claudio has joined us. His significant experience and knowledge will help us as we pursue further growth in this priority market. Claudio has forged excellent distribution relationships, often built around modern technology, which will be a differentiator for Canopius as we target profitable business throughout the Pacific region.”
Saita added: “Growing the Canopius portfolio in Australia and New Zealand is a very exciting proposition. This region presents significant opportunities for committed and locally empowered carriers that embrace technology, and I look forward to working with Mark and our team on the next steps in the Canopius APAC journey.”