Canopius launches investment management coverage for asset management companies

Canopius Group, a global specialist reinsurance company, has launched a new investment management product for asset managers. This product has been developed to address the changing risk landscape in the highly regulated asset management sector.

In an era of increasing financial market volatility and increased regulatory oversight, the product provides a strong safety net and protects asset managers from various financial liabilities, Canopius said.

This coverage includes directors’ and officers’ liability, civil liability, financial crimes, and may also apply to liability for representatives of portfolio companies’ private equity and venture capital firms. Canopius has confirmed that the product is available internationally (anywhere Lloyds has a license), but not the United States.

This product is designed to address a variety of scenarios specific to the asset management sector. This includes extradition defense costs, protection for directors against claims arising from the administration of the fund, and also automatically extends coverage for the launch of a new fund.

“As the wealth management industry continues to navigate an increasingly challenging regulatory landscape, the demand for comprehensive coverage has never been greater,” commented Matthew Kerr, Head of FINPRO at Canopius.

“Our products are the latest example of Canopius’ ambition to grow. By identifying niche areas in the market where we have recognized expertise, we will maintain and accelerate our growth momentum.” said Alois Rufiac, Head of Underwriting. “With the support of our market-leading claims team, this new service will pave the way for us to expand our market share in the wealth management sector.”

Canopius has underwriting operations in Australia, Bermuda, Singapore, the United Kingdom and the United States, with Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Ltd.), US Surplus Insurance Inc. (Canopius US Insurance Inc.), and Canopius Reinsurance Ltd. We conduct underwriting operations through . A Class 4 reinsurance company based in Bermuda.

Source: Canopius Group

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new market