AXA XL, the worldwide specialty insurance coverage and reinsurance unit of the AXA Group, has introduced the hiring of skilled reinsurance and ILS government Chris Caponigro as its new Head of Reinsurance Capital Administration.
The addition of Caponigro is seen as a transfer to additional strengthen its third-party capital providing by AXA XL and he will likely be tasked with increasing the agency’s product vary and investor base, by means of the continued growth of its infrastructure and technique.
Third-party and different capital is a key strategic lever for the corporate and AXA XL has been lively within the area for greater than a decade, having its personal devoted different reinsurance capital and insurance-linked securities supervisor, AXA XL ILS Capital Administration.
Caponigro is well-known within the ILS and different capital area of reinsurance, having labored at a lot of devoted ILS capital administration arms throughout his greater than 20 yr profession.
Most just lately, Caponigro was the Global Head of AXIS ILS at Bermuda-based insurer and reinsurer, AXIS Capital Holdings Restricted.
At AXIS, he held group stage accountability overseeing the third-party capital centered workforce that designs, implements, and administers non-public capital investor relationships.
Previous to that, he labored at Everest Re, the place he served as the Head of Business Development at the firm’s Mt. Logan Re collateralized reinsurance sidecar-like construction and capital administration unit.
Earlier than that, Caponigro served as Head of North American Disaster Traces at Platinum Underwriters Bermuda previous to which he held senior reinsurance underwriting and company roles with rising ranges of authority at Platinum and St. Paul Re.
Caponigro will likely be primarily based in america for AXA XL and can report back to Man Van Hecke, Head of Ceded Re on the firm.
Man Van Hecke commented on the information, “Third-party capital continues to exhibit a robust urge for food for insurance-linked securities (ILS). This demand aligns with our personal technique of accessing different sources of ceding capability as a part of our development plans.
“We now have an current and established workforce on this area, and our experience and providing will likely be additional strengthened by Chris’ appointment. Chris brings a wealth of business expertise, and his technical danger capabilities and monetary structuring skillset will likely be key in attaining our strategic targets.”
