Canopius underwriting director Carroll departs in reshuffle

Canopius has promoted Mike Duffy and Stephen Gargrave, heads of global property and marine & energy respectively, to joint active underwriters of Syndicate 4444.

In this capacity, Duffy and Gargrave will be responsible for all aspects of the day-to-day running of the syndicate’s underwriting.

In addition, Jim Giordano, group chief underwriting officer and head of international will assume direct responsibility for the oversight of CMA’s underwriting.

The appointments are subject to requisite regulatory consents. The company said that as a consequence of this reorganisation, Tim Carroll, underwriting director of CMA will be leaving Canopius.

Michael Watson, chairman of Canopius, said: “The appointments of Mike and Steve are testament to the drive and entrepreneurship that they have demonstrated consistently at Canopius. With Jim assuming direct oversight of CMA's underwriting, we will ensure deployment of his unparalleled expertise in support of the Group's most substantial operation. Together, Jim, Mike and Steve will drive the future success of the agency’s underwriting."

He added: “I would like to thank Tim for his loyalty and hard work over the past year and wish him well in his future endeavours.

“Following our excellent results for 2009, we look forward to further success in 2010. These changes will ensure that we focus on underwriting performance in the face of increasingly challenging market conditions.”