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Brenden Beeg has joined Amwins, a distributor of specialty insurance products and services, as Vice President – Alternative Risk.

In his new role, he will be working alongside Alex Kaplan, Amwins’s Executive Vice President for Alternative Risk, and Taylor Kwong-Wright, who serves as Associate Broker, Alternative Risk.

Beeg is joining Amwins from Plover Parametrics, a tech-enabled specialty brokerage focused on solutions for climate and novel risks, where he most recently served as Senior Vice President of Brokering.

Prior to that, the executive was a Business Development Manager, North America for Descartes Underwriting, a role he held for two years following his close to three-years tenure as an Account Specialist at Aon.

Earlier in his career, Beeg was part of The Tokio Marine Group, serving as Business Development Manager for First Insurance Company of Hawaii and as a Marketing Representative before that, where he managed state territory with Philadelphia Insurance
Companies, a Tokio Marine North America (TMNA) subsidiary.

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Moody’s Ratings has changed the outlook of Peak Re to positive from stable, citing that the contagion risk from the reinsurer’s majority shareholder, Fosun International Limited, is declining.

According to the rating agency, the contagion risk, particularly in the form of strain on business growth and financial flexibility, is expected to continue to decline in the next 12 months because of Peak Re’s effective ring-fencing measures.

Moody’s has additionally affirmed the Baa1 insurance financial strength rating (IFSR) on Peak Re, and affirmed the Baa3 (hyb) backed subordinated debt rating of the subordinated perpetual securities issued by Peak Re.

As per Moody’s, the rating affirmation primarily reflects Peak Re’s strong standalone credit profile of a3, supported by its solid position in the Asian reinsurance market, robust capitalisation, and increasing product and geographic diversification.

However, these strengths are reportedly tempered by Fosun’s high debt levels and limited liquidity, as well as Peak Re’s exposure to natural catastrophe risks.

At the same time, Peak Re’s Insurance Financial Strength Rating (IFSR) of Baa1 remains one notch below its standalone profile to account for the potential contagion risk stemming from Fosun’s significantly weaker credit standing.

Moody’s added, “Peak Re continues to operate independently from Fosun, particularly the reinsurer’s capital management and financing activities. This is despite Fosun’s high debt leverage and weak liquidity in the past few years. Peak Re has not paid any dividends nor provided financing to Fosun or its affiliates.

“The ring-fencing measures at Peak Re have proven effective. These measures include an independent board where Fosun does not have majority control, as well as stringent board oversight over related party transactions.

“Fosun’s near-term liquidity buffer has also improved with the offloading of several businesses in the last two years. As such, we assess that the probability of capital flows from Peak Re to support Fosun’s liquidity needs is low.”

The rating agency concluded, “We expect that the reinsurer’s underwriting profitability will continue to improve in 2024 compared to 2023 and remain solid over the next 12-18 months.

“The reinsurer’s P&C combined ratio stood at 87% in 2023. Its strong underwriting results have benefitted and will continue to benefit from prudent underwriting, favorable terms and conditions for reinsurers.

“The declining but still high interest rates will support recurring investment income. Its solid profitability will also support the reinsurer in maintaining a solid capitalization in the next 12 months.”

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Canopius Group, a global specialty and P&C insurer and reinsurer, has appointed Andrew Ziolkowski as its new Head of Australia and New Zealand (ANZ), effective October 25th, 2025.

He succeeds Craig Elliot, who has served as interim head of the Australia business since December 2024. Elliot will continue at Canopius as the Head of Casualty for ANZ, and transition into the newly created role of Head of Distribution for ANZ.

In the new role, Ziolkowski will report to SK Lee, Chief Executive Officer (CEO) for Asia Pacific (APAC) and the Middle East and North Africa (MENA).

Ziolkowski’s remit in the role includes the development and execution of Canopius’ strategy within the ANZ and APAC region.

He will lead the ANZ business units, ensure compliance with regulatory frameworks, and build key relationships with clients and stakeholders.

Ziolkowski has over 28 years of industry experience, having held several senior positions across customer, product, underwriting, claims, actuarial, analytics, and regulatory management.

Most recently, he served as Chief Underwriting and Transformation Officer at QBE Insurance. Prior to this, he was the Group Executive of Insurance for New South Wales (NSW Self Insurance Corporation). He has also held various executive positions at IAG/Wesfarmers Insurance and Zurich Financial Services.

Lee commented on the appointment, “Andrew’s extensive experience and strategic leadership will be instrumental in propelling Canopius’ Australia business forward. We are confident that his skills will help us achieve our growth and profit ambitions. We’re delighted to welcome him to our growing business in Australia.

“We would also like to thank Craig Elliot for his exceptional management of the team during the interim period, and we are delighted he will be leading our distribution efforts as we continue to seek out opportunities with our partners.”

Ziolkowski added, “I am thrilled about the opportunities for Canopius in Australia and New Zealand. I look forward to both expanding our delegated authority business and growing our open market business in the region. I am also very excited about leading a hugely talented team to even more achievements.”

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