Sompo Canopius AG (“Sompo Canopius”) announces the appointment of Steve O’Riordan as head of international property with immediate effect.
Steve brings 30 years’ experience in the international property markets to Sompo Canopius and will report to Derek Hansen, group head of direct and facultative property. Steve will be writing a UK and international direct and facultative property portfolio to complement Sompo Canopius’s existing US direct and facultative lines. He will also be working closely with the group’s head of heavy industry, Spencer Pearce. Steve joined from CNA Europe where he served as property underwriting manager since 2004, managing FT500, Fortune 500, multinational and major international programmes.
Hansen said, “I am delighted to have Steve join our team. He fills a gap in our international property offering and brings huge experience in trading in London. He is universally known as an enthusiastic underwriter who looks to work with brokers to find ways to support their placements. Connecting him now with the rest of our underwriting and cat management teams at Sompo Canopius will only enhance that.”
– Ends –
For further information please contact:
Caroline Klein, Sompo Canopius
+44 20 3750 2815
David Haggie / Richard Adams, Haggie Partners
+44 20 7562 4444
Steve O’Riordan began his underwriting career in the property owners’ unit of Royal Sun Alliance in 1987. He progressed within the business, being promoted to senior combined underwriter of its premier broker team in 1996 and development underwriter a year later. In 2001 he became a business development manager at Abbey Legal Protection Group before joining SLE Worldwide in 2003 as lead property underwriter. In 2004 he moved to CNA Europe as property underwriting manager, London market/ international D&F.
About Sompo Canopius AG (“Sompo Canopius”)
1. Sompo Canopius is a global specialty (re)insurer which is wholly-owned by Sompo Japan Nipponkoa Insurance Inc., one of the top three Japanese insurers with a market share in Japan of 28%. This company is a subsidiary of Sompo Japan Nipponkoa Holdings, Inc. (“Sompo Holdings”) which is listed on the Tokyo Stock Exchange (No. 8630).
2. As at 30 June 2016 Sompo Holdings had total assets of $99 billion, ordinary income of $304 million (Q1), profit after tax of $194 million (Q1) and a solvency margin ratio of 897%. As of 31 March 2016 the company had a market capitalization of $11.8 billion.
3. Sompo Canopius has underwriting operations in the UK, Netherlands, Switzerland, Bermuda, US and Singapore. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents limited); a US surplus lines insurer, Canopius US Insurance, Inc.; and a Zurich-based reinsurance company, Sompo Japan Canopius Reinsurance AG.