Canopius appoints property CEO as US chair

Canopius Group has reshuffled its US operations following the recently announced retirement of its executive chairman.

Jim Giordano, executive chairman of Canopius US’s operations, is set to step down at the end of June 2015. He will be replaced by Mike Duffy, who takes up the position in addition to his current role as chief executive officer of global property.

The appointment extends his responsibility to include oversight of Canopius US Insurance (CUS) and Canopius Underwriting Agency.

In addition, Andrew Fowles has been appointed as president and chief underwriting officer for CUS. He most recently served as deputy divisional underwriter, North American facilities in London.

Fowles will report to Steven Bird, who has been appointed group head of North American facilities. He succeeds Wayne and Laura Bates, the founders of CUS, who have departed.

Canopius added that in order to enhance profitable growth opportunities for CUS, its capital has been increased to more than $100 million.

Duffy said: “I am delighted that Andy is taking the helm at CUS. The combination of Steve and Andy’s experience and expertise, together with the increased capital base of CUS, will position us to grow our North American MGA business through both platforms. We will continue to focus on offering a first class service to our valued North American MGA clients and brokers.”