Canopius to accelerate reinsurance growth with two hires
Canopius plans to drive targeted reinsurance growth in the Bermuda market with the appointments of a new chief underwriting officer and chief financial officer, the company said.
The appointments of former Validus Reinsurance executive Jesse DeCouto as CUP and AXA XL reinsurance executive Tonia Morgan as CFO follows the appointment last September of Charles Cooper as Bermuda CEO and the hiring of Brenton Slade as head of insurance-linked securities in November.
"We are steadily increasing the level of reinsurance capacity we can offer in the market in a very targeted way and assembling a small team of senior leaders with the expertise and networks we need to realise our growth strategy," said Canopius Re CEO Cooper, who is also global head of reinsurance for Canopius.
"Jesse and Tonia are exactly that, representing some of the best talent in the market - Jesse brings unrivalled underwriting experience and broker relationships, Tonia will be instrumental in facilitating the small, entrepreneurial culture that we need to drive growth in a targeted way," said the former CEO of AXA XL reinsurance in Bermuda.
"Alongside Brenton, we will now have the ideal people in place to embark on the next phase of our strategy.”
Morgan takes up her new role on July 1, succeeding Teresa Gallant, while DeCouto joins on September 1 in a newly created role.
DeCouto started his career as a pricing actuary in 2000 and he brings nearly 25 years of experience in the industry, most recently as global chief underwriting officer for Validus Reinsurance. He will also serve as Canopius’ Global Product Leader for Reinsurance, overseeing the governance, performance and standards of reinsurance underwriting teams across the business.
Morgan brings over two decades of finance experience in the global reinsurance industry. She joins Canopius from Axa XL, where she was CFO of Bermuda Reinsurance. Tonia’s strong technical knowledge of US GAAP, the Bermuda regulatory environment, Insurance Linked Securities, and (re)insurance makes her perfectly suited to this role.
DeCouto said: “The growth plan which Charles has outlined and the opportunity to work with such an accomplished and well-respected team is exciting, compelling, and ultimately too good to pass up. I am delighted to join the Canopius Reinsurance Senior team at this formative time for the business and look forward to this exciting new challenge."
Morgan added: “With a strong understanding of the Reinsurance market in Bermuda, I am looking forward to creating an impact within an entrepreneurial team that is looking to build an enduring business in the region. It’s an exceptionally talented team and I’m excited to get started.”
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