P&C reinsurer Canopius has authorised Qubit, a specialist managing basic agent specializing in digital asset dangers, as a coverholder to distribute its digital asset custody and crime insurance coverage merchandise from Hong Kong.
This marks the primary time that Canopius is offering digital asset insurance coverage within the Asia Pacific area in collaboration with one other firm.
Qubit is now the primary and solely home service within the Hong Kong market to supply merchandise with the Lloyd’s of London monetary ranking, the corporate said.
Qubit CEO Helen Ye stated: “Reaching Coverholder standing from Lloyd’s is a milestone for Qubit. Distributing merchandise on behalf of Canopius, lengthy recognised as a market chief for innovation, is an additional testomony to the good strides we have now made as a enterprise. This approval positions us to raised meet the wants of the market and displays Qubit’s dedication to the trade.
“Our new standing will permit us to increase market main insurance coverage protection to varied contributors within the digital asset house, together with custodians, exchanges and funding managers.”
Canopius head of Specie Nicholas Edwards stated: “We satisfaction ourselves on innovation and growing options that tackle the wants of shoppers internationally. Endorsing Qubit as a Coverholder aligns us with a accomplice who shares this dedication to grasp the dangers shoppers face and to ship tailor-made options to mitigate them.”
In December 2024, Canopius prolonged its partnership with WNS, aiming to strengthen its current connections by implementing WNS’ proprietary, technology-led options.
Canopius has underwriting operations in Australia, Bermuda, China, Singapore, the UK and the US.
It underwrites through Lloyd’s Syndicate 4444, managed by Canopius Managing Brokers, in addition to Canopius US Insurance coverage and Canopius Reinsurance, a Bermuda-based Class 4 Insurer.
