Global specialty (re)insurer Canopius has announced it is set to open a new office in Australia as part of its ongoing commitment to expand in the Asia Pacific region.
The local entity will open to underwrite business in time for the 30th June renewal season, subject to regulatory approval.
The announcement by Canopius stated that that the Sydney operation will deliver a local underwriting hub for business in Australia and New Zealand, targeting a combination of SME business via coverholders, wholesale direct and facultative, as well as reinsurance treaty business.
Claudio Saita, who will lead the new office, joins Canopius as country manager for Australia & Pacific and will become a member of the newly established Canopius Asia Pacific leadership team.
Prior to joining Canopius, Claudio was deputy CEO and executive director of Tokio Marine Management Australasia and will report to Mark Newman, CEO APAC & MENA.
Newman, CEO APAC & MENA, said: “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, country manager for Australia & Pacific commented: “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.”