S&P takes dim view of Canopius' capitalisation
Rating agency Standard & Poor’s (S&P) has described Canopius Group’s risk-based capital as being significantly below BBB.
Accordingly S&P has revised its view of the capitalisation of Canopius Managing Agents -Syndicate 4444 from adequate to marginal.
The group provides about 68% of the syndicate's capacity on the 2012 year of account (73% of the 2011 year of account from July 2011).
Canopius Managing Agents is the tenth largest managing agency at Lloyds.
According to its website the UK Retail Insurance division comprises the UK personal and SME commercial lines written by Syndicate 4444 and also Syndicate 260.
The
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