Canopius Renames Bermuda Platform
Canopius Group Ltd. has renamed its Bermuda-based reinsurance platform Canopius Reinsurance Ltd.
In a statement today [Mar. 19], Guernsey-based Canopius said that, after the sale last week of Canopius Holdings Bermuda to Tower Group Inc., it had renamed Omega Specialty Insurance Ltd., its Bermuda-based reinsurance arm.
Canopius Reinsurance Ltd. has $400 million of capital and underwrites structured reinsurance business for third parties and provides capital support to Canopius’ underwriting operations at Lloyd’s of London.
Beginning June 1, Canopius Bermuda will be headed by Stephen Hartwig, who will succeed Susan Patschak as CEO subject to regulatory approval, the statement said.
Canopius Bermuda also includes Canopius Underwriting Bermuda Ltd., which underwrites excess casualty business on behalf of Canopius’ Lloyd’s syndicate 4444.
