Canopius names new US president

Canopius names new US president | Insurance Business

Canopius names new US president

Global specialty re/insurer Canopius Group has added a new leader to its US roster, appointing Lisa Davis (pictured) as president and chief underwriting officer of Canopius USA, effective October 01.

Davis has over 25 years of experience and joins Canopius from Sompo America Insurance Services, where she had served as executive vice president and president of Asian risk solutions since 2016. She will be reporting to group CUO Mike Duffy and will have responsibilities for the re/insurer’s US operations, which include Canopius US Insurance (CUSI) in Chicago and Canopius Underwriting Agency (CUAI) in New York.

Davis will aim to realize the company’s growth aspirations in the region, according to a news release. To accomplish these goals, Canopius will capitalize on its partnership with Samsung Fire & Marine Insurance (SFMI) – a minority investor in Canopius since 2019 – by using its admitted paper to underwrite more business in the US.

“Hiring Lisa is the next stage in Canopius’s evolution in the US,” said Duffy. “Working closely with CUAI and CUSI, she will develop a single leadership structure and capitalize 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.”

Davis added: “Canopius’s 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’s already well-established US business is a fantastic opportunity.”

She continued: “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.”