Canopius makes big moves in Asia-Pacific with Aspen Re raid

Global specialty re/insurer  Canopius has plucked two senior leaders from Aspen Re to bolster its property/casualty (P&C) reinsurance offering as part of its  ongoing Asia-Pacific expansion.

Andrew Parker joins as head of treaty, Australia & New Zealand and head of casualty treaty, Asia-Pacific, and Paul Wedlock as head of property treaty, Australia & New Zealand.

Based in Sydney, the pair will lead the expansion of Canopius’ local reinsurance offering. Parker and Wedlock will be joined by Peter Mattei who will assume the role of casualty treaty underwriter, and Liza Aparicio as office manager.

With 33 years’ experience, Parker joins after eight years at Aspen Re in Sydney, where he was most recently head of Australia and New Zealand. Parker helped develop Aspen Re’s P&C operations in Australia, doubling its premiums since 2015.

With 30 years’ experience, Wedlock also joins Canopius from Aspen Re, where he served as head of property, Australia and New Zealand, responsible for the growth and development of the regional treaty portfolio.

Mattei has more than 12 years’ experience in pricing across a breadth of reinsurance classes in the US, Australia and New Zealand.

Canopius has hired six new team members in Australia since February this year as part of its strategic growth plans in the APAC region. The company sees an opportunity to scale quickly in a mature market.

Natt Wattanaumphaipong, deputy CUO and head of reinsurance APAC at Canopius, said: “Andrew, Paul and the team bring deep expertise to Canopius. Their proven track record in managing complex reinsurance portfolios has earned them their highly respected reputations in the market. I am pleased to welcome all four to the business and look forward to working with them as we pursue ambitious plans for profitable growth.”

Parker commented: “Canopius has rapidly established itself as a leader in the Australian P&C market. The offering is second to none and the growth ambitions, underpinned by exceptionally talented underwriters, made this an easy decision. We are relishing the prospect of supporting the momentum and look forward to working with Natt and the rest of the team in Sydney, Melbourne and across Asia Pacific.”

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