Canopius to offer US excess casualty capacity

SAN DIEGO – Canopius US Insurance Inc. will begin writing excess liability business by year-end, following the recruitment of a casualty leader last month, said Lisa Davis, CEO of U.S. and Bermuda at the specialty insurer.

Canopius hired Steve Mills, previously president of excess and surplus at managing general agent Ledgebrook, in August and is recruiting more liability staff, Ms. Davis said during an interview Tuesday at the Wholesale & Specialty Insurance Association annual conference in San Diego.

The insurer will begin offering $5 million in capacity excess of $25 million, she said.

“We might do a little bit more, but I think $5 million is the right place for us to start,” Ms. Davis said.

In addition, it plans to expand to offer capacity in other layers, including primary coverage, within the next couple of years, she said.

The offering is part of London-based Canopius’ plan to expand its U.S. business, Ms. Davis said. The U.S. accounts for about 18% of the company’s business, and it plans to grow it to about 25%, she said.

In addition to the casualty launch, the insurer recently began offering equine insurance and now has seven product lines in the United States, she said.