Canopius Group Limited announced Tuesday that the group as appointed Michael Pratten to the newly created role of Chief Investment Officer.
Pratten will report to Group Chief Financial Officer, Paul Cooper and will be responsible for overseeing the Group’s investments and asset management.
Michael brings over 25 years’ strategic investment management experience to Canopius.
He joins from Coal Pension Trustees Services Ltd, where as Chief Investment Officer and Director, he was responsible for the design and development of the infrastructure and asset strategy for pension funds totaling over £25 billion.
Michael also spent 10 years with Equitas Ltd as Investment Strategist and Chief Investment Officer, where he developed an outsourced global investment infrastructure, managing £7 billion ($10 billion) for the reinsurance run-off of the Lloyd’s market. He has also held senior positions at Wellington Management Ltd and Prudential Portfolio Management.
In a statement, Paul Cooper, Canopius Group Chief Financial Officer said Pratten’s appointment reflects the growing size of Canopius’ funds under management, which now exceed £1.5 billion ($2.5 billion).
Pratten began his career in 1986 with Prudential Portfolio Managers, progressing to Senior Fixed Income and Currency Manager. He then held senior research positions at IBJ International and PaineWebber before joining Equitas Ltd in 1996. He was then appointed Director of Asset Allocation UK and EMEA for Wellington Management, before joining Coal Pensions Trustees Services Ltd in 2008.
Incorporated in Guernsey, Canopius Group Limited is an international insurance group and reinsurance with operations in the UK, Ireland, Switzerland, Bermuda, US, Switzerland and Australia.
Canopius is currently majority owned by funds managed by Bregal Capital LLP, with Canopius management owning a 5 percent share.
On Dec. 18, 2013, NKSJ Holdings announced that it has signed an agreement, through its insurance subsidiary Sompo Japan Insurance Inc. to purchase 100 per cent of the shares of Canopius Group Limited. Subject to regulatory approval, the transaction is expected to close in the second quarter.
Source: Canopius Group Limited