Sompo Canopius changes organisation structure and executive team

Sompo Canopius, the global specialty lines platform of Sompo Japan Nipponkoa Holdings, has made a number of changes to its organisational structure.

The company said it is simplifying its underwriting management and structure to enhance cohesiveness and focus on profitability across the group.  It is also making some changes to its executive team.

Mike Duffy is appointed as group chief underwriting officer, responsible for all underwriting operations. He is supported by a team of underwriters, who each retain oversight of their individual product lines. Duffy will also become active underwriter of Syndicate 4444.

Stephen Manning becomes group chief operating officer and retains responsibility for Sompo Holdings’ Regional European Restructuring Monitor (ERM) centre.  Gaynore Moss is promoted to group chief risk officer, and will join the group executive.

Stephen Gargrave will retire from his current full time role of chief executive officer (CEO), global specialty, following four decades in the market. However, he will take up a new role in June as a non-executive director of Canopius Managing Agents and as an advisor to Duffy.

After five years successfully building the group’s UK franchise, Tim Rolfe will also leave the company.  He remains at Sompo Canopius until 31 March 2016 to assist with the transition to the new structure.

Stuart Davies, group CEO, said: “Sompo Canopius is home to some exceptionally talented people, and I am pleased that this allows us to promote from within.  The new structure will support our focus on underwriting profitability and operational efficiency, as well as our “one game, one team” culture.

“We are fortunate that we will continue to benefit from Steve Gargrave’s expert knowledge built up over nearly 40 years.  I am also very grateful to Tim Rolfe for all his hard work and contribution to the company’s success over many years and I wish him all the best in the future.”