Canopius Appoints New CUO and CFO to Drive Targeted Reinsurance Growth

The latest hires calculated to take Canopius to its next strategic phase, Jesse DeCouto has been named Chief Underwriting Officer and Tonia Morgan has taken on the role of CFO.

(Image source: Canopius homepage.)

Canopius, a Hamilton, Bermuda-based global specialty lines (re)insurer, has announced that it has strengthened its senior leadership team in Bermuda with the appointment of Jesse DeCouto as Chief Underwriting Officer and Tonia Morgan as Chief Financial Officer of Canopius Reinsurance Limited. Morgan takes up her new role on July 1st, succeeding Teresa Gallant; DeCouto joins on September 1st, in a newly created role.

Jesse DeCouto, Chief Underwriting Officer, Canopius Reinsurance Limited.

Jesse DeCouto began his career as a pricing actuary in 2000, bringing nearly 25 years of experience in the industry. He was most recently Global Chief Underwriting Officer for Validus Reinsurance. DeCouto will also serve as Canopius’ Global Product Leader for Reinsurance, overseeing the governance, performance and standards of reinsurance underwriting teams across the business.

Morgan has over two decades of finance experience in the global reinsurance industry. She joins Canopius from AXA XL, where she was CFO of Bermuda Reinsurance. Morgan’s strong technical knowledge of US GAAP, the Bermuda regulatory environment, Insurance Linked Securities, and (re)insurance makes her especially suited to her new role, according to a statement from Canopius.

Tonia Morgan, Chief Financial Officer, Canopius Reinsurance Limited.

The appointments of DeCouto and Morgan are the latest in a series of senior hires at Canopius Reinsurance. Charles Cooper joined the business as CEO and Global Head of Reinsurance in September 2023, with the initial goal of developing the reinsurer’s Bermuda platform to expand its reach and scope in the market. As part of this, Brenton Slade joined as Head of ILS in November. The business is now expanding the team with key hires with the depth of experience to execute its strategy and help build meaningful capacity among a targeted group of customers.

Both DeCouto and Morgan will report to Charles Cooper, CEO, Canopius Reinsurance Limited and Global Head of Reinsurance.

Ready for Next Strategic Phase

Charles Cooper, CEO, Canopius Reinsurance Limited.

“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,” comments Cooper. “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.”

“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,” DeCouto comments. “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.”

“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,” says Morgan of her appointment. “It’s an exceptionally talented team and I’m excited to get started.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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