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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. ....