Canopius names new head of US casualty

Specialty traces world re/insurer Canopius has introduced the appointment of Steve Mills (pictured above) as the brand new head of casualty for its US operations.

Mills brings over three a long time of trade expertise, having held management roles at numerous insurance coverage organizations throughout a number of segments and specialties. Most just lately, he served as president of extra and surplus at Ledgebrook, a tech-enabled managing basic agent start-up. Previous to that, he held an analogous place on the Hanover Insurance Group.

Mills shall be primarily based within the better Atlanta space and can report on to Lisa Davis, CEO of Canopius US and Bermuda.

In his new function, Mills is predicted to leverage his in depth expertise in casualty underwriting. His tasks will embrace growing each extra and surplus major casualty and extra casualty merchandise.

These choices shall be made out there on to Canopius’ buying and selling companions, in response to the corporate.

Again in June, Canopius additionally appointed Mark Houghton to the newly created function of worldwide product chief for specialty.

With over 20 years of expertise in insurance coverage and monetary companies, Houghton joins Canopius from AXA XL, the place he led the political threat group for over a decade earlier than changing into head of specialty in Asia.

Continued profitability for Canopius

The corporate additionally just lately unveiled its monetary outcomes for the first half of 2024, ending June 30, highlighting vital development throughout key monetary metrics.

For the primary half of 2024, Canopius reported a 23% improve in insurance coverage contract written premium, totaling $1.84 billion, up from $1.50 billion in the identical interval final 12 months. Internet insurance coverage income rose by 24% to $980 million, in comparison with $790 million within the first half of 2023.

The group’s internet mixed ratio (discounted) improved barely to 85.4% from 86.9%, whereas the undiscounted internet mixed ratio stood at 91.1%, in comparison with 90.9% within the prior 12 months.

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