Canopius enters surplus lines segment in the US
Bermuda-based Canopius Group has hired a veteran E&S underwriter to supercharge its entry into the surplus lines insurance sector and expand its footprint in the US.
Canopius’ entrance into the US excess casualty market will be focused on commercial risks, with a specialised approach in niche verticals, such as construction, commercial real estate, hospitality, manufacturing, and technology.
The company will write excess casualty on Canopius US Insurance Company paper.
As a key part of the expansion, Canopius has appointed Jude DiBattista as US head of excess casualty. DiBattista has over three decades of casualty experience in the E&S market segment, along with a strong background in building profitable casualty portfolios. He most recently worked for Nationwide. QBE and Aspen Insurance.
Laurie Banez, head of casualty, US & Bermuda, said: "The E&S Excess Casualty market has become one of the fastest-growing markets in the insurance industry and this rapid growth has provided an opportunity for Canopius to enter the market and offer a specialised solution for our customers. Under Jude's leadership, we’ll deliver underwriting excellence and innovative risk-based solutions for our wholesale distribution partners.”
DiBattista commented: “It’s an honour and a privilege to be part of the Canopius organisation, and I am very excited about the opportunity to build this team and product offering from the ground-up. I am also thrilled with the company’s commitment to expand into the rapidly growing excess casualty surplus lines market.
“Our vision centres around providing comprehensive products tailored to diverse clients, competitive terms and conditions, and niche underwriting expertise our partners will value. The ultimate goal is to enhance our value proposition and make a significant impact within the market.”