Canopius hires Sompo's Davis to spearhead US expansion

Specialty re/insurer Canopius has appointed Lisa Davis as president and chief underwriting officer (US) of Canopius USA, effective October 1.

With over 25 years of experience, Davis joins from Sompo America Insurance Services where she served as executive vice president, president Asian Risk Solutions at Sompo International since 2016.

In her new role reporting to group CUO Mike Duffy, Davis will oversee all Canopius' US operations, comprising Canopius US Insurance (CUSI) in Chicago and Canopius Underwriting Agency (CUAI) in New York. She will build on the combined strengths of CUSI and CUAI, supported by expertise in London.

Additionally, Canopius also plans to draw on its partnership with Samsung Fire & Marine Insurance (SFMI), which became a significant minority investor in Canopius in 2019, by using its admitted paper to underwrite more US business.

Duffy said: “Hiring Lisa is the next stage in Canopius’ evolution in the US. Working closely with CUAI and CUSI, she will develop a single leadership structure and capitalise on the numerous synergies between our US. operations. With the support of our partner SFMI, a combined Canopius USA will be able to offer greater flexibility and value to our brokers and clients in the US.

“This is a very exciting time and I am very pleased to welcome Lisa to Canopius, whose expertise will help propel our US business to a new level.”

Davis commented: “Canopius’ Lloyd’s and Company platforms in the US had operated as two largely independent businesses in the US, and there is huge opportunity in bringing these together. Growing something organically is precisely the challenge I wanted at this point in my career, and to be able to build Canopius’ already well-established US business is a fantastic opportunity.

“I have a shared vision with the Canopius management team of harnessing the power of the US businesses, backed by expertise and support from the heart of the insurance world in London and Lloyd’s, to bring huge benefits to our broker partners and clients.”