Canopius bolsters reinsurance division with CUO, CFO appointments

Canopius bolsters reinsurance division with CUO, CFO appointments | Insurance Business Australia

Reinsurance

Canopius bolsters reinsurance division with CUO, CFO appointments

New leaders will report to the global head of reinsurance

Reinsurance

By
Kenneth Araullo

Specialty lines re/insurer Canopius has announced additions to its senior leadership team at Canopius Reinsurance (Canopius Re) in Bermuda.

Jesse DeCouto (pictured above, left) has been appointed chief underwriting officer, and Tonia Morgan (pictured above, right) will take on the role of chief financial officer, effective July 1, succeeding Teresa Gallant. DeCouto will join the company on September 1 in a role specifically created for him.

DeCouto, who began his career as a pricing actuary in 2000, comes to Canopius with nearly a quarter-century of experience, most recently serving as the global chief underwriting officer for Validus Reinsurance.

In addition to his role as chief underwriting officer, he will also act as Canopius’ global product leader for reinsurance, responsible for overseeing the governance, performance, and standards of reinsurance underwriting teams globally.

“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,” DeCouto said.

Morgan brings more than two decades of financial experience in the global reinsurance industry to her new position. She moves from Axa XL, where she served as CFO of Bermuda Reinsurance. Her extensive knowledge of US GAAP, the Bermuda regulatory framework, Insurance Linked Securities, and re/insurance sectors make her a strong fit for Canopius.

“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,” Morgan said.

These appointments are part of Canopius Reinsurance’s strategy to enhance its Bermuda platform and increase its market presence. It also follows the earlier hiring of Charles Cooper as CEO and global head of reinsurance in September 2023, and Brenton Slade as head of ILS in November. Both DeCouto and Morgan will report directly to Cooper.

“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 realize our growth strategy,” Cooper said.

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