P&C reinsurer Canopius has accredited Qubit, a specialist managing common 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 provider within the Hong Kong market to supply merchandise with the Lloyd’s of London monetary score, the corporate acknowledged.
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 extra testomony to the good strides we’ve made as a enterprise. This approval positions us to raised meet the wants of the market and displays Qubit’s dedication to the business.
“Our new standing will permit us to increase market main insurance coverage protection to numerous contributors within the digital asset area, together with custodians, exchanges and funding managers.”
Canopius head of Specie Nicholas Edwards stated: “We pleasure ourselves on innovation and creating options that handle the wants of purchasers internationally. Endorsing Qubit as a Coverholder aligns us with a associate who shares this dedication to know the dangers purchasers face and to ship tailor-made options to mitigate them.”
In December 2024, Canopius prolonged its partnership with WNS, aiming to strengthen its present connections by implementing WNS’ proprietary, technology-led options.
Canopius has underwriting operations in Australia, Bermuda, China, Singapore, the UK and the US.
It underwrites by way of 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.
