New leadership from AXA XL, Validus to fuel Canopius’ reinsurance ambitions
Global specialty re/insurer Canopius has bolstered its Bermudian leadership with top executive hires from Validus and AXA XL, in a move to drive targeted reinsurance growth and build “meaningful capacity”.
The company has hired Jesse DeCouto as chief underwriting officer and Tonia Morgan as chief financial officer (CFO) of Canopius Re in Bermuda.
DeCouto will join September 1 in the newly created role and Morgan will take up her new role on July 1, succeeding Teresa Gallant.
DeCouto will also serve as Canopius’ global product leader for reinsurance where he is expected to oversee the governance, performance and standards of reinsurance underwriting teams across the business.
DeCouto started his career as a pricing actuary in 2000 and has nearly 25 years of experience in the industry. He was global chief underwriting officer for Validus Reinsurance.
Morgan has over two decades of finance experience in the global reinsurance industry. She joins Canopius from AXA XL, where she was CFO of Bermuda Reinsurance. Morgan has technical knowledge of US GAAP, the Bermuda regulatory environment, insurance linked securities, and re/insurance.
Both DeCouto and Morgan will report to Charles Cooper, chief executive office, Canopius Re and global head of reinsurance.
These appointments are the latest in a series of hires that also saw Cooper join in September 2023 and Brenton Slade joining as head of ILS in November. The company said it is expanding the team with “key hires with the depth of experience to execute its strategy and help build meaningful capacity among a targeted group of customers”.
Cooper said: "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.”
“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. Alongside Brenton, we will now have the ideal people in place to embark on the next phase of our strategy.”
DeCouto commented: “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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