Sompo Canopius AG has made a number of changes to its organizational structure. The company said that it is simplifying its underwriting management and structure to enhance cohesiveness and focus on profitability across the group. It is also making some changes to its executive team.
Mike Duffy was appointed as group chief underwriting officer, responsible for all underwriting operations. He is supported by a team of underwriters, who each retain oversight of their individual product lines. Mr. Duffy also will become active underwriter of Syndicate 4444, subject to regulatory approval.
Stephen Manning was named group chief operating officer and retains responsibility for Sompo Holdings' regional ERM center.
Gaynore Moss was promoted to group chief risk officer, and will join the group executive.
Stephen Gargrave will retire from his current full time role following four decades in the market. However, he will take up a new role in June as a non-executive director of Canopius Managing Agents Limited (subject to regulatory approval) and as an advisor to Mr. Duffy.
Tim Rolfe, who helped build the group's U.K. franchise, will remain at Sompo Canopius until March 31, 2016 to assist with the transition to the new structure.
Stuart Davies, the group chief executive officer, commented, “Sompo Canopius is home to some exceptionally talented people, and I am pleased that this allows us to promote from within. The new structure will support our focus on underwriting profitability and operational efficiency, as well as our 'one game, one team' culture. We are fortunate that we will continue to benefit from Steve Gargrave's expert knowledge built up over nearly 40 years. I am also very grateful to Tim Rolfe for all his hard work and contribution to the company's success over many years and I wish him all the best in the future.”
Learn more: www.sompocanopius.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].