Canopius US chairman steps down

The executive chairman of Canopius US, part of Canopius Group, the speciality re/insurance platform of Sompo, is set to step down.

James Giordano will retire from the group on June 30, 2015.

Giordano was a member of the original Canopius management buy-out team and served as the group's chief underwriting officer from May 2003 until October 2013. He then relocated to the US to take up his current position.

Michael Watson, chairman and chief executive officer of Canopius, said: “Jim Giordano is both a personal friend and a valued colleague. He has been a huge part of the Canopius success story over the past twelve years and was my right hand man for most of that time in London.

“Jim had a great influence in building a strong and talented pool of underwriters both here and overseas. I thank him for his immense contribution to Canopius and wish him all the best for the future.”

Giordano added: “After 41 years of underwriting, I have decided the time is right to spend more time with my family. The creation and development of Canopius was both challenging and rewarding and I am proud of the part I played in its success.

“I leave with confidence that the current team led by Michael Watson is fully capable of carrying the baton on to further greatness. I would like to thank all of my colleagues and friends in the insurance market for their support over many years.”