Sompo Canopius, which has an office in Bermuda, is simplifying its underwriting management and structure and has announced a number of staff changes, only a week after revealing its new brand name and logo.

The company is represented in Bermuda by Canopius Underwriting Bermuda Ltd, which is a service company of the group. It has an office in Par-la-Ville Road.

Sompo Canopius was formerly known as Canopius. It was acquired by specialty reinsurer Sompo Japan Nipponkoa Insurance in 2014 and integrated into the Sompo Holdings Group.

At the beginning of this month, Canopius rebranded as Sompo Canopius. It is one of the top ten insurers in the Lloyd’s insurance market, writing premiums in excess of £1 billion ($1.44 billion).

As well as Bermuda, the company has underwriting operations in Britain, the Netherlands, Switzerland, the US and Singapore. It underwrites through a number of entities worldwide, including Lloyd’s Syndicate 4444.

When Canopius rebranded, Stuart Davies, chief executive officer, said: “We have the secure backing of Sompo Holdings’ financial strength and global reach. But that isn’t all. Sompo Canopius is also packed with talented people; from actuarial to claims to underwriting. It is these factors together that offer confidence and assurance to our brokers and clients in a changing and volatile world.”

Sompo Holdings’ market capitalisation at the end of 2015 was $13.8 billion.

Sally Coryn, head of corporate development at Sompo Canopius, said: “As Sompo Canopius, we are creating a new identity that will support strong brand recognition across our underwriting portfolio. The new brand enables us to articulate the best of our combined values — the strength and history of Sompo Holdings and the specialist knowledge and expertise of Canopius.”

Sompo Canopius has appointed Mike Duffy as group chief underwriting officer, with Stephen Manning becoming group chief operating officer and Gaynore Moss promoted to group chief risk officer.

Stephen Gargrave, global specialty CEO, is retiring from his full-time role but will become a non-executive director of Canopius Managing Agents Ltd.

Tim Rolfe, who has built the group’s franchise in Britain during the past five years is leaving the company at the end of March.

Regarding the changes, Mr Davies said: “The new structure will support our focus on underwriting profitability and operational efficiency, as well as our ‘one game, one team’ culture.

“We are fortunate that we will continue to benefit from Steve Gargrave’s expert knowledge built up over nearly 40 years. I am also very grateful to Tim Rolfe for all his hard work and contribution to the company’s success over many years and I wish him all the best in the future.”