Global specialty insurance and reinsurance firm Canopius has signed up with program fronting specialist and Markel subsidiary State National Group, so that it can underwrite specified lines of insurance on admitted paper across the United States.
With State National fronting for Canopius, the re/insurer will now be able to offer clients A.M. Best rated A (Excellent) admitted paper, as well as its existing surplus lines Lloyd’s Syndicate 4444 paper, for products written by its U.S. Ocean Marine business led by John Ellis and U.S. Management & Professional Liability business led by Laurie Banez.
Mike Duffy, Group Chief Underwriting officer at Canopius, commented, “We’ve seen a lot of interest in these products since Laurie and John and their teams came on board. We’re really pleased that we can now capitalise on that interest by offering admitted paper through the State National Group of companies as well as Lloyd’s paper. We also appreciate the patience of our brokers who have been committed to our vision over the last year and we look forward to building the long term relationships with them that are so fundamental to the way we work.”
Canopius’ U.S. Management and Professional Lines offering includes a range of proprietary products that address the risk management needs of companies facing commercial and financial institution risks. The U.S. Marine team will offer tailored products across the ocean marine lines of coverage, focusing in particular on hull and marine liabilities for primary & excess, as well as ocean cargo.