Global specialty re/insurer Canopius has announced the promotion of Stephen Pike to head of credit and political risk (CPR).
Pike will lead the CPR team and help develop its proposition across Europe and internationally.
He joined Canopius as an Underwriter in CPR in 2017 from ED&F Man Capital Markets where he co-led the build out of their global trade finance business.
In his new role Pike will report to Bernie de Haldevang, who oversees CPR as the overall Head of Credit, Political & Crisis (CPC) at Canopius.
Canopius sees this appointment as underlining its commitment to CPC, which following its 2019 merger with AmTrust, has one of the largest teams in the Lloyd’s market.
“I am very pleased to announce Stephen’s appointment as we look ahead to the unparalleled prospects emerging in the post-COVID era,” said de Haldevang.
“Becoming one of the younger team leaders in the market to lead a team of this size, Stephen has made a remarkably fast and effective transition from banker to insurer and is able to leverage his experience in banking and capital markets to the mutual advantage of our clients and ourselves.
“This underlines our preferred approach of supporting and developing subject matter experts, and working with them to shape the client proposition, as they naturally better understand the clients we aim to serve.”
Commenting on his appointment, Pike said, “Financial instability throughout the corporate environment due to the COVID-19 induced recession will increase demand from our clients.
“As we saw following the last financial crisis, this increased appetite will provide opportunities to those underwriters who are able to offer clear solutions in an uncertain market, and I believe the team at Canopius is well placed to do this.”