Canopius expands in Asia Pacific with new Australia office; hires Tokio Marine exec

Specialty re/insurer Canopius is launching a new office in Sydney, Australia as part of its strategy to expand in the Asia Pacific region.

Subject to regulatory approval, the local entity will open to underwrite business in time for the 30th June renewal season.

The Sydney operation will provide a local underwriting hub for business in Australia and New Zealand, targeting a combination of SME business via coverholders, wholesale direct and facultative, as well as reinsurance treaty business.

The new office will be led by Claudio Saita, who joins Canopius as country manager Australia & Pacific and will become a member of the newly established Canopius Asia Pacific leadership team. He will report to Mark Newman, CEO APAC & MENA.

Previously, Saita was deputy CEO and executive director of Tokio Marine Management Australasia.

Newman said: “I am delighted that Claudio has joined us. His significant experience and knowledge will help us as we pursue further growth in this priority market. Claudio has forged excellent distribution relationships, often built around modern technology, which will be a differentiator for Canopius as we target profitable business throughout the Pacific region.”

Saita commented: “Growing the Canopius portfolio in Australia and New Zealand is a very exciting proposition. This region presents significant opportunities for committed and locally empowered carriers that embrace technology, and I look forward to working with Mark and our team on the next steps in the Canopius APAC journey.”

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