Allie Sanchez
As part of its efforts to evolve the company to keep up with industry changes,
Sompo Canopius today announced changes in its management roster.
Stuart Davies will be stepping down from his role as group chief executive and other related responsibilities, effective immediately.
Davies joined the firm in 2015 and has led the company through a period of change that the company believes headed it back to a renewed focus on profitability and adaptability.
Michael Watson (pictured), founder and current Sompo Canopius non-executive chairman, has been named executive chairman. His support team will be comprised of Mike Duffy, group chief underwriting officer, and Paul Cooper, group chief financial and operating officer.
“It has been a pleasure to lead Sompo Canopius as Group CEO and I would like to thank everyone for their support and hard work. The team at Sompo Canopius is full of talented and knowledgeable people and I wish them all the best,” Davies noted.
Watson added: “I would like to thank Stuart for his dedication to the success of Sompo Canopius since he joined in 2015. His commitment and enthusiasm have been evident from day one and he leaves the group in a strong position.
“The Board and I respect his decision to move on and we wish him every success in the future. At the same time, I have great confidence in Mike Duffy and Paul Cooper and the rest of our highly experienced management team. I look forward to working with them as we continue to build Sompo Canopius into a world-class global specialty (re)insurer.”
