Canopius reports return to profit and brings COR below 100%

Michael Watson

The business, which recently agreed the sale of its Bermuda operation, also reported gross written premiums of £692m for 2012, up 12% from £616m in 2011.

And the group’s combined operating ratio improved by 16% from 111% in 2011, to 95% last year.

Canopius acquired Lloyd’s syndicate Omega Insurance Holdings in August 2012, and the company said this purchase has boosted premiums under management by 40%, as well as increasing its financial resources by 35%.

Michael Watson, executive chairman of

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