Canopius Group has announced that it has appointed Lisa Davis as President and Chief Underwriting Officer of Canopius USA, effective October 1st 2020.
With over 25 years of experience, Davis joins from Sompo America Insurance Services LLC where she served as Executive Vice President, President Asian Risk Solutions at Sompo International since 2016.
Reporting to Group CUO Mike Duffy, Davis will oversee all Canopius U.S. operations, comprising Canopius US Insurance, Inc. (CUSI) in Chicago and Canopius Underwriting Agency, Inc. (CUAI) in New York. Davis will build on the combined strengths of CUSI and CUAI, supported by expertise in London, to realise Canopius’ ambitious U.S. growth aspirations.
To that end, Canopius also plans to draw on its partnership with Samsung Fire & Marine Insurance (“SFMI”), which became a significant minority investor in Canopius in 2019, by using its highly-regarded Admitted paper to underwrite more U.S. business.
Duffy said: “Hiring Lisa is the next stage in Canopius’ evolution in the U.S. Working closely with CUAI and CUSI, she will develop a single leadership structure and capitalise on the numerous synergies between our U.S. operations. With the support of our partner SFMI, a combined Canopius USA will be able to offer greater flexibility and value to our brokers and clients in the U.S.
“This is a very exciting time and I am very pleased to welcome Lisa to Canopius, whose expertise will help propel our U.S. business to a new level.”
Davis said: “Canopius’ Lloyd’s and Company platforms in the US had operated as two largely independent businesses in the U.S., and there is huge opportunity in bringing these together. Growing something organically is precisely the challenge I wanted at this point in my career, and to be able to build Canopius’ already well-established U.S. business is a fantastic opportunity.
“I have a shared vision with the Canopius management team of harnessing the power of the U.S. businesses, backed by expertise and support from the heart of the insurance world in London and Lloyd’s, to bring huge benefits to our broker partners and clients.”