Global specialty lines (re)insurer Canopius has boosted its senior leadership team in Bermuda by adding a CUO and CFO.

Jesse DeCouto will become the new chief underwriting officer, CUO, while Tonia Morgan will be CFO of Canopius Reinsurance.

DeCouto started as a pricing actuary in 2000 and was most recently global chief underwriting officer for Validus Reinsurance.

Morgan joins from AXA XL, where she was CFO of Bermuda Reinsurance.

Charles Cooper, CEO, Canopius Reinsurance Limited and Global Head of Reinsurance 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.”

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Jesse DeCouto, incoming CUO, Reinsurance at Canopius Reinsurance Limited, stated: “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.”

In April 2024, Canopius formed a partnership with Group-IB to enhance its cyber insurance offerings.  

This collaboration marks Group-IB’s first full-service partnership with a Lloyd’s of London syndicate. 

It aims to provide Canopius policyholders with an enhanced level of protection and threat intelligence. 

Founded in 2003 and based in Singapore, Group-IB specialises in developing cybersecurity technologies to investigate and combat digital crime.  

The partnership will look to deliver risk assessments, real-time threat notifications, and informed strategies for threat mitigation to Canopius’ clients.