Canopius hires former Validus, Axa execs

Hamilton, Bermuda-based insurer and reinsurer Canopius Group Ltd. Wednesday said former Validus Reinsurance Ltd. executive Jesse DeCouto has been named chief underwriting officer and former Axa XL executive Tonia Morgan as chief financial officer of Canopius Reinsurance Ltd.

Mr. DeCouto, most recently global chief underwriting officer for Validus Reinsurance, assumes his newly created position on Sept. 1. He will also serve as global product leader for reinsurance, Canopius said in a statement.

Ms. Morgan, most recently CFO of Bermuda Reinsurance for Axa XL, a unit of Axa SA, assumes her position on July 1, succeeding Teresa Gallant.

Both will report to Charles Cooper, CEO, Canopius Reinsurance Ltd. and global head of reinsurance.

The reinsurer is “steadily increasing the level of reinsurance capacity we can offer in the market,” Mr. Cooper said in the statement.