Global specialty (re)insurer Canopius Group has launched a new investment management product for asset managers.
According to Canopius, this new product has been developed to respond to shifts in the risk landscape in the “highly regulated” asset management sector, offering protection for asset managers from a range of financial liabilities.
The firm noted that cover includes directors and officers liability, civil liability and financial crime, and can be extended to legal liability for private equity and venture capital firm representatives on portfolio companies.
Matthew Carr, Head of FINPRO at Canopius, commented, “As the asset management industry continues to navigate an increasingly challenging regulatory landscape, the demand for comprehensive cover has never been greater.
“Our product sets a new standard by drawing upon our extensive underwriting experience. We are delighted to launch this product to support our expansion in this important market segment.”
Alois Rouffiac, Chief Underwriting Officer UK, added, “Our product is the latest example of Canopius’ growth ambition. By identifying niche sectors of the market where we have recognised expertise, we will maintain and accelerate our growth momentum.
“Supported by a market-leading claims team, this new offering will pave the way for the expansion of our market share in the asset management sector.”
