Canopius Group, a global insurance and reinsurance group, has made number of changes in its Professional Indemnity underwriting strategy and management.
As part of its UK retail strategy, Canopius will focus on its Professional Indemnity account predominantly on smaller UK professional organizations in the future.
Canopius said that David Hunwick, head of Professional Indemnity at Canopius Underwriting, will continue to lead the same portfolio.
At the same time, Canopius will continue its strategic partnerships with certain coverholders in the UK and overseas who focus on similar SME Professional Indemnity business and these relationships will continue to be managed by Jeremy Hyne.
The change of strategy includes Canopius withdrawal from open market Professional Indemnity business with immediate effect, reasoning the portfolio does not fit with its SME retail focus.