Sompo Canopius expands mining cover capacity via Lloyd’s consortium

Sompo Canopius, a specialty re/insurance subsidiary of Sompo Japan Nipponkoa Holdings, has secured additional capacity for its mining cover from Travelers Syndicate 5000 at Lloyd’s.

The move takes the full capacity for Sompo Canopius' mining portfolio up to $30 million. The cover will be underwritten by Spencer Pearce as a consortium through Lloyd’s.

Spencer Pearce joined Sompo Canopius in September 2016 to run the heavy industry business, a new line for the group that covers mining, chemical and heavy industrial property business globally.

Pearce said: "Since I joined Sompo Canopius, we have been working hard to ensure that we offer our brokers and clients the best and most appropriate products.

"With the recent hire of  Andy Fynn as senior mining engineer and this new agreement with Travelers, I am confident that our capacity and expert knowledge mean brokers need not look anywhere else to place their mining risks."

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