Canopius appoints Pat Milner as Renewable Energy Head
Canopius Group, a leading global specialty (re)insurer, today announces the appointment of Pat Milner as Head of Renewable Energy, effective immediately.
Milner brings more than 30 years of experience in the global energy insurance market to Canopius where he will report to Rachel Sabbarton, Head of Energy. Formerly Head of Technical Risks and Managing Director of the UK Branch at The Hartford, Milner is a highly accomplished underwriting executive with an established reputation as a market leader in the energy sector.
His appointment underlines Canopius’ commitment to the renewable energy sector. Milner will be responsible for servicing the existing book of business and client base, as well as building a strategy for the future.
Sabbarton said: “Attracting someone of Pat’s experience and calibre is a significant coup for Canopius and I am delighted to welcome him to the team. His extensive expertise further deepens the bench strength of the energy division, which will be instrumental in realising both our renewable energy growth ambitions and the industry’s energy transition goals.”
Milner said: “I am delighted to join Canopius to build on the reputational excellence that the team have established and to further develop Canopius’ renewable energy proposition.”
Munich Re appoints Linus Phoon CEO for Singapore & Southeast Asia
Munich Re has appointed Linus Phoon as chief executive officer (CEO) of Singapore and Southeast Asia, succeeding Till Böhmer who is returning to the company’s head office in Germany to take up a new role.
Linus will be responsible for overseeing Munich Re’s businesses in Singapore and the Southeast Asia region. This appointment is effective from 2 May 2019.
Linus joins Munich Re from Canopius, where he was CEO Reinsurance Asia since 2008. He has over 20 years of experience gained at reinsurance firms including General and Cologne Re, St Paul Re and Converium, where he was responsible for underwriting and overseeing non-life reinsurance businesses across various Asian markets.
In his new role, Linus will lead Munich Re’s reinsurance businesses in Singapore and Southeast Asia, providing clients with traditional reinsurance and complex risk solutions, as well as consulting services.
Based in Singapore, he will report to Roland Eckl, chief executive, Asia Pacific – Japan, India, Korea and Southeast Asia.
“We are pleased to welcome Linus to this new leadership role,” said Eckl. “His deep reinsurance expertise and experience of managing operations and client relationships across the Asia region are important assets that will help us grow our business in Southeast Asia, and continue to partner with our clients across the industry”.
AmTrust at Lloyd’s and Canopius sign merger agreement
Specialty re/insurer Canopius has signed a definitive agreement to merge its Lloyd’s business with AmTrust at Lloyd’s, a division of AmTrust Financial.From 1 January 2020, Canopius will merge its Syndicate 4444 with AmTrust Syndicate 1861 under the management of Canopius Managing Agents.As part of the deal, AmTrust Financial Services will become a significant minority shareholder in Canopius.
The transaction is expected to complete in the third quarter of 2019, subject to regulatory approvals.Together the companies aim to create a top-five insurer at Lloyd’s with combined premiums of approximately $2.2 billion.Canopius chairman Michael Watson said: “I am delighted at the prospect of welcoming our talented new colleagues from AmTrust at Lloyd’s. Today’s announcement marks a transformational step in our determination to build a leading Lloyd’s franchise.”The AmTrust at Lloyd’s business brings significant underwriting expertise, product diversification, and scale to the Canopius portfolio. Together we will broaden the product and service proposition we offer our highly-valued clients and distribution partners. Quite simply, this is a unique and exciting opportunity which places us amongst the top five businesses at Lloyd’s and we welcome AmTrust as a significant minority shareholder in Canopius.”AmTrust Financial chairman and CEO Barry Zyskind said: “The sale of AmTrust at Lloyd’s to Canopius is a significant step in the AmTrust Forward vision to be a leading specialty commercial P&C insurer focused on local markets and niche products where we can add significant value.”This transaction joins AmTrust with a great partner in Canopius through our minority stake in a top-five Lloyd’s syndicate. Our Lloyd’s clientele and employees will be well served by the new, larger, Canopius operation.”