Menu

Reinsurance News

Canopius Re secures class 4 reinsurer licence from BMA

13th January 2021 - Author: Charlie Wood

Canopius’ Bermuda-based reinsurance company Canopius Re has secured a Class 4 Reinsurer licence from the Bermuda Monetary Authority.

canopius-logoThis reclassification makes it possible to significantly extend Canopius Re’s scope, enabling it to increase gross written premiums and write more third-party risks.

Canopius Re is set to undergo a reorientation towards an initial focus on third-party property and casualty business, reflecting the opportunities created by the improving rating environment.

Charles Craigs, Chief Executive Officer, Canopius Re, said, “I am extremely pleased to announce that Canopius Re has now been approved as a Class 4 Reinsurer.

“All Canopius Bermuda entities will benefit from Canopius Re’s expanding underwriting appetite and growing group commitment to the Bermuda marketplace.

“I would like to thank our team for their many efforts, and the BMA for recognising that and enabling us to ideally position the business to capitalise on the considerable opportunities that exist.”

Canopius Re’s status as a Class 4 company will considerably add to Canopius’s Bermuda operations, which includes a Class 4 Reinsurer, a coverholder underwriting on behalf of Lloyd’s Syndicate 4444,
an insurance agent structuring and raising capital for property catastrophe ILS transactions, and two Canopius affiliates specialising in prospective and retrospective casualty reinsurance for asset managers and ILS investors.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Chubb selects Jeremiah Konz as new Chief Reinsurance Officer

Property and casualty insurer Chubb has announced that Jeremiah Konz, currently Executive Vice President, Reinsurance Officer for Chubb Overseas General,...

Close