Canopius signs insurance deal with State National Group

Canopius, which has a significant presence on Bermuda, has signed an agreement with State National Group, enabling it to offer specified lines of insurance written on admitted paper across the US.

Canopius will now be able to provide AM Best rated A (Excellent) admitted paper - in addition to surplus lines Lloyd’s Syndicate 4444 paper - across its US ocean marine business led by John Ellis and US management & professional liability 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 capitalise 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.”

The US management and professional lines team has developed various 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; addressing the various risk management needs for commercial and financial institution risks. The US marine team will be offering broad and bespoke coverage solutions, with tailored product offerings spanning all ocean marine lines of coverage, with a focus on hull and marine liabilities for primary & excess, as well as ocean cargo.