Sompo Canopius poaches head of energy at AIG

Sompo Canopius, a specialty re/insurer, has appointed Spencer Pearce as head of heavy industry.

Reporting to Mike Southgate, head of marine, energy and engineering, Pearce will work closely with the existing engineering and power outage teams.

Spencer has over 25 years of experience specialising in mining, power and property, having most recently served as head of energy for Europe at AIG.

Prior to this he served as a partner for JLT Re, working on its energy business.

Mike Duffy, group chief underwriting officer, commented: “I’ve been trying to persuade Spencer to join us for almost a decade. The timing was never quite right before, but I’m very pleased that we have finally ‘got our man’.

“One of the things that we’re currently doing is tightening our focus from a broad spectrum of products onto fewer key areas where we believe we can add value to our brokers and clients. Spencer will be a significant part of that and we know that brokers and clients are very interested in the heavy industry coverage that he can offer.”

Sompo Canopius will continue to use Priority Underwriting for the underwriting of power utility business.