Canopius scales back its PI underwriting as two staff leave Lloyd's insurer
Canopius is scaling back its professional indemnity business to focus on SMEs, resulting in two staff leaving the business.
In keeping with its UK retail strategy, Canopius will focus its professional indemnity account predominantly on smaller UK professional organisations in the future.
A Canopius statement said: "This portfolio will remain under the leadership of David Hunwick, head of professional Indemnity.
"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. These relationships will continue to be managed by Jeremy Hyne.
"Canopius is withdrawing, with immediate effect, from open market professional indemnity business that does not fit with this SME retail focus. As a consequence of these changes, Russell Newell and Alex Dyer will be leaving the organisation."
Canopius chairman is Michael Watson.
