Canopius announces new group chairman

Canopius announces new group chairman | Insurance Business Australia

Reinsurance

Canopius announces new group chairman

CEO lauds the experience of the new appointee

Reinsurance

By
Jonalyn Cueto

Canopius has announced the appointment of Andy Haste as its new group chairman, effective July 1, 2024.

Haste will chair the group board following a record year for Canopius in 2023, according to a news release. He brings extensive experience to his new role, having held positions such as group chief executive of RSA Insurance Group and CEO at AXA Sun Life. He also served as senior independent director and deputy chairman of Lloyd’s from 2012 to 2021. Currently, Haste chairs the board of esure group.

Haste will succeed Michael Watson, who will step down but continue to support Canopius in an advisory role.

“I am honoured to join Canopius as its group chair and excited to work closely with Neil and his management team, as well as my fellow board members on the next stage of Canopius’ journey,” said Haste. “I would like to thank Michael for his service to Canopius over many years and wish him all the best in his future endeavours.”

Watson reflected on his tenure: “It’s been my privilege to develop Canopius since its foundation in 2003 alongside great colleagues and supportive shareholders. Canopius has never been in better shape, and I have great confidence in Andy Haste and Neil Robertson’s leadership team to propel the business to new heights in the coming years.”

In 2023, Canopius posted profits after tax of $363 million and saw a 22% increase in insurance contract written premium to $2.80 billion.

Ben Langworthy, Canopius shareholder board director and senior managing director and co-head of Europe at Centerbridge, Canopius Group’s majority shareholder, welcomed Haste’s appointment.

“His seasoned industry expertise and stewardship will help Canopius in its next growth phase,” he said. “We also wanted to thank Michael Watson for his dedication over the last 20 years at Canopius as founder, CEO, and most recently as non-executive chairman.”

Neil Robertson, Canopius Group CEO, added: “Andy will bring independence, gravitas, and a breadth of experience to our board that will help shape the next chapter of the Canopius journey. Throughout Andy’s career, he has forged a reputation as a strong leader who acts with conviction. All qualities that I believe will serve Canopius well. I believe that the appointment of an individual of Andy’s stature in the industry, demonstrates our ambition for Canopius in the coming years and we’re delighted to have him on board.”

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