Specialty re/insurer Canopius Group Ltd held a reception to mark a successful partnership with Bermuda in the wake of the company’s takeover by Japanese giant NKSJ Holdings.

The event, which took place at the Masterworks Museum of Bermuda Art, was attended by Dr. Grant Gibbons, Minister of Economic Development and Education, Bob Richards, Minister of Finance, Gerald Simons, Bermuda Monetary Authority Chairman, key industry and business leaders as well as members of the Canopius Group senior executive, including chairman and chief executive Michael Watson.

Canopius Bermuda, which was launched in 2007, employs a team of ten, most of whom are Bermudian.

It has achieved consistent growth in its business and underwriting capacity. In addition to ongoing business expansion, Canopius Bermuda is a committed participant in a number of community programmes including the Sunshine League, with Canopius Bermuda senior insurance executive Annemarie Tobin serving as the organisation’s chair.

Speaking at the reception, Canopius Bermuda CEO Stephen Hartwig said: “We are delighted to host this reception to celebrate our partnership with Bermuda. Since we established our office here seven years ago, our business in Bermuda has gone from strength to strength, due, in no small part, to its highly positive business climate. We are looking forward to further growth, continued success and an active role in the Bermuda community.”

Mr Watson said: “Over the past ten years, Canopius Group has grown into one of the largest Managing Agents in Lloyd’s and our Bermuda office has played a key role in our success.

“With the announcement of our acquisition by leading Japanese insurer NKSJ Holdings and becoming its specialty insurance platform, Canopius is well placed to continue our strategy of profitable growth, and our presence in Bermuda is a central part of our growth plan in mature specialty markets.”

Minister Gibbons said: “Companies like Canopius are very much in our hearts as a government ... you have boots on the ground here.”

He cited the company’s high percentage of Bermudian staff, commitment to training and community involvement. “We really appreciate that level of support to the community and Bermudians as well,” he added.