Canopius Group, a specialist (re)insurance underwriting business, has established UK retail insurance business division and has also named Tim Rolfe as its CEO. He will report to Jim Giordano, group chief underwriting officer.
In his new role, Rolfe’s key priority will be to implement that strategy and drive profitable growth across all classes and channels with an increasing emphasis on specialist business.
The company said Rolfe has reviewed the current UK business outlook and developed a strategy to capitalize on Canopius’s current strengths, identify its desired market positioning and enhance the profitability of the new division.
Colin Hart, CEO of Canopius-owned KGM Motor is set to leave the group as a part of its restructuring that sees the formation of a new UK retail division. As a result Neil Manvell will become active underwriter, Syndicate 260, subject to Lloyd’s approval.
Canopius’s UK retail division will comprise the following business lines: household; specialist property/ niche personal lines; commercial combined for the SME sector; casualty, including accident & health and professional indemnity; motor including personal, commercial and specialist vehicles.
UK Retail also acts as the interface for the Group’s distribution channels, Arista Insurance and K Drewe/ Look Insurance.
Rolfe said his aim is to accelerate the performance and capabilities of this important division whilst seeking to meet clients’ requirements in a market which has changed considerably over the past decade.
Canopius chairman Michael Watson said bringing together UK underwriting and distribution businesses into a single structure led by Tim Rolfe as CEO, UK Retail, will enable us to fully leverage the existing capabilities and focus on delivering specialist products that meet target customers’ needs.
"This will ensure that this significant part of the Group develops into a successful and sustainable UK retail franchise which adds further value to our clients and shareholders," Watson said.