australia-istock-583798468
iStock/ MarkRubens
30 April 2019Insurance

Canopius expands in Asia Pacific with new Australia office; hires Tokio Marine exec

Specialty re/insurer Canopius is launching a new office in Sydney, Australia as part of its strategy to expand in the Asia Pacific region.

Subject to regulatory approval, the local entity will open to underwrite business in time for the 30th June renewal season.

The Sydney operation will provide 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.

The new office will be led by Claudio Saita, who joins Canopius as country manager Australia & Pacific and will become a member of the newly established Canopius Asia Pacific leadership team. He will report to Mark Newman, CEO APAC & MENA.

Previously, Saita was deputy CEO and executive director of Tokio Marine Management Australasia.

Newman 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 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.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

Veteran Stephen Catlin launches re/insurance start-up with $1.8bn capital raise

AXA UK remodel places claims roles at risk of redundancy

CLS Risk Solutions secures CEO to wake ‘sleeping giant’

BIBA teams up with MGA Opus for new intellectual property scheme

Join us at Intelligent Automation & AI in Insurance - 21st May: London

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
11 July 2019   Specialty re/insurer Canopius has appointed Jamie Jeffers as underwriter, credit & political risk, for Asia Pacific, effective September 9.
Insurance
8 July 2019   Specialty re/insurer Canopius has made four new appointments for its recently established Canopius Australia & Pacific branch in Sydney, which has also gained binding authority approval from Lloyd’s.
Insurance
3 May 2019   Specialty re/insurer Canopius has signed an agreement with Korea's Samsung Fire & Marine Insurance (SFMI) that will see SFMI become a significant minority investor in the company.