Credit: Andrii Yalanskyi/Shutterstock.com.

The Canopius product has been developed to respond to shifts in the risk landscape within the highly regulated asset management sector.

Furthermore, the firm states that this product will provide a robust safety net.

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It offers protection for asset managers from a range of financial liabilities such as directors and officers liability, civil liability and financial crime.

In addition, it can be extended to legal liability for private equity and venture capital firm representatives on portoflio companies.

Also, the product has been designed by Canopius to react to a large number of scenarios specific to the asset management sector.

Matthew Carr, head of FINPRO at Canopius, said: “As the asset management industry continues to navigate an increasingly challenging regulatory landscape, the demand for comprehensive cover has never been greater. Our product sets a new standard by drawing upon our extensive underwriting experience. We are delighted to launch this product to support our expansion in this important market segment.”

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Alois Rouffiac, chief underwriting officer UK, added: “Our product is the latest example of Canopius’ growth ambition. By identifying niche sectors of the market where we have recognised expertise, we will maintain and accelerate our growth momentum. Supported by a market-leading claims team, this new offering will pave the way for the expansion of our market share in the asset management sector.”

Canopius Group appointed Matthew Crane as head of UK distribution at the beginning of 2024.

Crane takes the head of UK distribution role with immediate effect and will also service on the Canopius UK executive committee.

He will be responsible for enhancing Canopius’ relationships with its global brokers, regional distribution partners, and strategic clients.

In addition, he brings close to two decades of market experience to the firm and joins from PIB Group, where he was CEO of Q underwriting.