Qubit, a specialist MGA focusing on digital asset risks, has been approved as a Coverholder by Canopius, a leading global specialty and P&C (re)insurer, to distribute their market-leading digital asset custody and crime insurance products from Hong Kong.
This is the first time Canopius, the world’s largest insurer of digital asset custody, has partnered with another company to offer digital assets insurance in Asia Pacific.
This partnership highlights Qubit’s expertise and prominent position in the crypto market. As a result, Qubit has become the first and only domestic carrier in the Hong Kong market to offer products benefiting from the Lloyd’s of London financial rating and security, rated ‘A+’ by AM Best and ‘AA-‘ by Standard & Poor’s.
Helen Ye, CEO of Qubit, comments: “Achieving Coverholder status from Lloyd’s is a milestone for Qubit. Distributing products on behalf of Canopius, long recognised as a market leader for innovation, is a further testament to the great strides we have made as a business. This approval positions us to better meet the needs of the market and reflects Qubit’s dedication to the industry. Our new status will allow us to extend market leading insurance coverage to various participants in the digital asset space, including custodians, exchanges, and investment managers.”
Nicholas Edwards, Head of Specie at Canopius, commented: “We pride ourselves on innovation and developing solutions that address the needs of clients across the world. Endorsing Qubit as a Coverholder aligns us with a partner who shares this dedication to understand the risks clients face and to deliver tailored solutions to mitigate them.”
