Canopius
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Plus TransRe contingency losses, Lloyd's chief of staff and a round-up of the rest of the week’s most popular news. -
It is understood the book will be reinsured to close into Compre’s new legacy syndicate once the launch is approved.
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The Michael Watson-led business has yet to appoint banks and may not pull the trigger on the move.
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The new classification will allow the carrier to increase GWP and third-party risk.
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The move follows Axa LM's decision to cease bidding for new external deals, revealed in September last year.
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Former FCA interim CEO Christopher Woolard is made a CBE in the Queen’s New Year’s Honours.
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There will be significant movements in the ranks of the top 10 syndicates in 2021, with Brit moving into second place and Axa XL tumbling to 7th.
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Sources said that the carrier’s equity raise was the more efficient path to securing growth capital.
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The executive will take on the role of US president and CUO in October as the carrier looks to increase its presence in the market.
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The carrier provides capacity to a number of warranty and indemnity MGAs including Icen Risk and RSG Europe Transactional Risks.
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The executive joined as an underwriter in 2017 and has a banking background.
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Marijuana dispensaries in cities including Chicago, Philadelphia, Boston and Los Angeles were among the targets.
