29 June 2016 Insurance

Sompo Canopius unveils partnership in Mexico

Specialty re/insurer Sompo Canopius has formed a strategic partnership with Grupo Nacional Provinical, a multiline insurance company in Mexico, to develop business and insurance products for the Mexican market.

According to Sompo Canopius, the arrangement capitalises on GNP’s position as a leading domestic insurer and Sompo Canopius’s specialist underwriting.

The arrangement enables GNP to broaden its underwriting portfolio to include international risks through a participation in the underwriting results of Syndicate 4444.

Stuart Davies, chief executive officer of Sompo Canopius, said: “We are looking forward to working with GNP as we develop our strategic partnership. The combination of our underwriting skills and specialist expertise, and GNP’s understanding of the local market and established distribution, will allow us together to develop new business and broaden our knowledge base.”

Mario Vela, CEO of GNP, added: “This is an exciting development for GNP. Our partnership with Sompo Canopius will provide us with an increased international exposure through their position at Lloyd’s and enable us to expand our product range to meet the growing local demand for specialist insurance products.”

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