A Chubb executive jumps ship to Endurance Specialty Holdings. Specialty Insurer Brit Lt. names some to lead its new Singapore office. Canopius revamps, renames itself and makes some executive changes.
A former Chubb executive is joining Endurance Specialty Holdings to lead a new division within the Bermuda-based specialty insurer and reinsurer.
Michael Chang comes on board as of Feb. 22 as chief executive officer of global risk solutions for Endurance, a new business within Endurance Insurance. He’ll be tasked with developing globally focused products for large account risk management clients. Chang will be based in New York and report to Jack Kuhn, Endurance’s CEO for global insurance.
Before Endurance, Chang was a Chubb executive vice president within its Real Estate & Hospitality practice. He’d been with Chubb since 1997, starting as a surety trainee and has served in various management positions since then.
Specialty insurer Brit Ltd. opened a new office in Singapore, and Charlie Barrett will lead it.
Barrett, with U.K.-based Brit since February 2011, is currently class underwriter for war and terrorism. He’ll initially write war and terrorism and political risk in his new position, aided by Hong Onn Ching, who will write construction business.
The new Brit office will begin operations March 1 via the Lloyd’s Singapore platform. Brit has approval to start underwriting from both Lloyd’s and the Monetary Authority of Singapore.
Sompo Canopius AG – formerly known as Canopius – has made changes to its executive team. As part of this effort, the specialty insurer has also streamlined its underwriting management and structure, in the aftermath of its 2014 acquisition by Sompo Japan Nipponkoa Insurance Inc., itself a part of Sompo Holdings Group.
Mike Duffy is now group chief underwriting officer, responsible for all underwriting operations. He’ll work with a supporting team of underwriters who each will continue to oversee their individual product lines. Duffy will also become active underwriter of Syndicate 4444, subject to regulatory approval.
Stephen Manning is now group chief operating officer and will continue overseeing Sompo Holdings’ regional ERM center.
Gaynore Moss is promoted to group chief risk officer, and will join the group executive.
Stephen Gargrave will retire from full-time status after a four-decade career. In June, he will become a non-executive director of Canopius Managing Agents Ltd. (subject to regulatory approval) and an adviser to Duffy.
After five years successfully building the group’s UK franchise, Tim Rolfe will depart. He remains at Sompo Canopius until March 31, 2016 to assist with the transition to the new structure.
Sources: Endurance, Brit Ltd., Sompo Canopius AG