Canopius has appointed Andrew Tongue as a trade and political risk underwriter as the firm continues to grow its newly-created political risk unit.
Tongue will start in March, and will report to and serve as deputy to Crispin Hodges, who started as the team’s head in October.
The insurer’s new trade political risk (TPR) unit sits alongside existing profit and loss units within the credit, political and crisis (CPC) division of excess of loss trade credit (XTR), credit and political risk (CPR) and crisis management (CM). It comprises the syndicate 1861 political risk book formerly managed by AmTrust at Lloyd’s.
In his new role Tongue will focus on trader, bank and corporate clients in the TPR portfolio and will be based out of the London office. He joins from Swiss Re, where he most recently held the role of senior political risks underwriter, prior to which he held senior underwriter positions at AXA Africa Specialty Risks and CNA Hardy.
“Andrew is exactly the calibre of underwriter we wish to attract, and his extensive expertise and experience will be a huge advantage as we develop the proposition further. We are delighted to announce he will be joining the team,” Hodges says.
Hodges and the unit ultimately report to Bernie de Haldevang, the head of credit, political and crisis management at Canopius.
Speaking about the appointment, de Haldevang says: “Following the integration of AmTrust, Canopius has a greatly extended political risk capability. Andrew’s appointment demonstrates our intent to fully capitalise on the huge potential that has been created.”
A spokesperson for Canopius tells GTR that they anticipate further expansion, with the insurer expecting to make another hire in the trade political risk division in the coming weeks.