Canopius Group, the London-based specialty re/insurer, announced the strategic expansion of its U.S. casualty business with its entry into the domestic
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Canopius Re Receives License in Bermuda to Operate as Class 4 Reinsurer January 13, 2021
Canopius announces its Bermuda-based reinsurance company Canopius Reinsurance Ltd. has been granted a Class 4 reinsurer license by the Bermuda Monetary Authority.
The reclassification will significantly extend Canopius Re’s scope, enabling it to increase gross written premiums and write more third-party risks. This marks a reorientation of the reinsurer, which will initially be focused on third-party property and casualty business, reflecting the opportunities created by the improving rating environment.
Class 4 reinsurers are the largest reinsurers regulated by the BMA and must maintain minimum capital and surplus of $100 million.
Canopius Re granted a Class 4 licence royalgazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from royalgazette.com Daily Mail and Mail on Sunday newspapers.