Canopius and State National Group reveal US deal

Global reinsurer to bring its specified lines of insurance, including marine, to the States

Canopius and State National Group reveal US deal

Insurance News

By Ryan Smith

Global specialty reinsurer Canopius has signed an agreement with State National Group that will allow it to offer specified lines of insurance written on admitted paper across the United States.

Canopius will be able to provide admitted paper with an A rating by A.M. Best, in addition to surplus lines Lloyd’s Syndicate 4444 paper, across its US ocean marine business, headed by John Ellis, and the US management and professional liability business led by Laurie Banez.

“We’ve seen a lot of interest in these products since Laurie and John and their teams came on board,” said Mike Duffy, group chief underwriting officer. “We’re really pleased that we can now capitalize on that interest by offering admitted paper through the State National Group of companies, as well as Lloyd’s paper. We also appreciate the patience of our brokers who have been committed to our vision over the last year, and we look forward to building the long-term relationships with them that are so fundamental to the way we work.”

Canopius’s US management and professional lines team has developed several proprietary products, including  its excess pact, excess policy; private pact, management liability package policy for private companies; and executive pact, public company directors and officers policy. The US marine team will be offering broad and bespoke coverage products spanning all ocean marine lines of coverage.

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