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by : Alpha Insurance Analysts Limited

Canopius, now wholly-owned by Sompo Japan Nipponkoa Holdings, today announced that their respective reinsurance operations have been combined to form a single business unit, under the leadership of Eric Gutierrez, CEO, Canopius Europe.

The combined team will underwrite regional European treaty reinsurance across a number of lines including property, casualty and marine. From 1st January 2015, all business will be underwritten by Canopius Europe, offering Lloyd’s security. Masashi Yamashita, who founded Sompo’s Zurich operation in 2013, has been appointed Head of Global Strategy and Structure for Reinsurance to assist Sompo and Canopius with a review of the future strategy and structure of their reinsurance business.  In addition, he will serve as Chief Operating Officer, Canopius Europe to facilitate an orderly transition.