9 September 2014 News

Canopius and Sompo combine European operations

Canopius Group and Sompo Japan have combined their Zurich-based reinsurance operations in to a single business unit.

Led by Eric Gutiérrez, chief executive officer of Canopius Europe, the team will underwrite regional European treaty reinsurance across a number of lines including property, casualty and marine.

From January 1, 2015, all business will be underwritten by Canopius Europe.

Masashi Yamashita, who founded the SJNK Zurich operation in 2013, has been appointed head of global strategy & structure, reinsurance to assist SJNK 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.

Gutiérrez said:  “I look forward to working with our enlarged team to develop our regional European portfolio. We will continue to focus on understanding our clients’ requirements, delivering quality service and products backed by strong technical and financial resources.”

Yamashita added: “Given the strategic overlap, it is logical for us to combine the operations of SJNK Zurich and Canopius Europe. This move will strengthen the Group’s offering and, by harnessing our collective expertise, support the realisation of its growth ambitions.”

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