PATSCHAK TO STEP DOWN AS HEAD OF CANOPIUS BERMUDA

Susan Patschak, CEO of Canopius Bermuda, is to step down at the end of May after five and a half years in the role. She will be replaced by Stephen Hartwig, currently senior vice-president at Canopius Underwriting Bermuda, where he has led the excess casualty underwriting team since 2008. As part of the link-up between Canopius and New York-based Tower Group ( IIN 24, July 31 2012), which last April invested $75m for a 10.7% stake in Canopius and which in July announced that it would be exercising its option to merge with Canopius Holdings Bermuda and Canopius Bermuda. The reinsurance unit of Canopius Bermuda is scheduled to merge with Tower's own reinsurance operations before the end of march. After the merger Canopius will continue to operate the former Omega Specialty Insurance Co, which was bought by Canopius last year and which will be rebranded under the Canopius name.