Canopius Re hires DeCouto & Morgan as CUO & CFO in Bermuda

Global specialty lines re/insurer Canopius has bolstered its senior leadership team in Bermuda by hiring Jesse DeCouto as Chief Underwriting Officer (CUO) and Tonia Morgan as Chief Financial Officer (CFO) of Canopius Reinsurance Limited (Canopius Re).

According to the announcement, Morgan takes up her new role on July 1, succeeding Teresa Gallant, while DeCouto joins the business on September 1, in a newly created role.

DeCouto started his career in the industry by working as a pricing actuary in 2000. Overall, he brings nearly 25 years of experience in the industry and was most recently Global CUO for Validus Reinsurance.

As well as taking on the role of CUO, DeCouto will also serve as Canopius’ Global Product Leader for Reinsurance, overseeing the governance, performance and standards of reinsurance underwriting teams across the business.

Meanwhile, Morgan brings over 20 years of finance experience across the global reinsurance industry.

She joins Canopius from AXA XL, where she most recently served as CFO of Bermuda Reinsurance.

Both appointments are the latest in a series of recent senior hires seen at Canopius Reinsurance.

If you recall, Charles Cooper joined the business as CEO and Global Head of Reinsurance in September 2023.

It has been confirmed that both DeCouto and Morgan will report to Cooper.

Cooper, commented on the appointments: “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.”

Jesse DeCouto, incoming CUO, Reinsurance at Canopius Reinsurance Limited, 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.”

Tonia Morgan, incoming CFO, Reinsurance at Canopius Reinsurance Limited, 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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