Canopius has appointed Mike Duffy as chief executive of Canopius Managing Agents (CMA), the group's main regulated entity.

Effective immediately, Duffy will carry out his new role alongside his current responsibilities as group chief underwriting officer (CUO).

Concurrently, group deputy CEO Sarah Willmont will become CUO of CMA and active underwriter of Syndicate 4444.

Both appointments remain subject to relevant regulatory approvals.

Canopius executive chairman Michael Watson said: “I have worked with Mike for 12 years and he is a valued partner and greatly respected by the market and our staff. Moreover, Sarah has made a huge contribution to our underwriting leadership and strategy. It is clear they are the right team to lead us forward and it is very encouraging to be able to make promotions from within the group, demonstrating the strength and depth that we have at Canopius.”

The changes come as the Lloyd’ carrier prepares to become a standalone business once again, with the completion of its previously announced private-equity-backed management buyout scheduled for the first quarter of this year.