Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has hired Chris Caponigro to serve as the Global Head of AXIS ILS, the company’s rebranded third party capital unit.
Caponigro joins AXIS from global reinsurer Everest Re, where he served as Head of Business Development at the firm’s Mt. Logan Re collateralized reinsurance sidecar-like structure.
In his new role with AXIS ILS, Caponigro takes on oversight of the company’s activities related to third party capital under management, supporting efforts across its insurance and reinsurance units.
Effective July 22nd, 2021, he will report to Steve Arora, Chief Executive Officer (CEO) of AXIS Re and will be based out of the firm’s New York and New Jersey offices.
“Chris brings a unique mix of deep ILS and investor experience, combined with a technical background in underwriting, and strong interpersonal and leadership skills. Our team and our investors will benefit significantly from the expertise, perspective and partnership that Chris brings,” said Arora.
“In recent years, we’ve elevated AXIS as a player in the ILS space. The addition of Chris to our team, combined with our rebranding of the business, demonstrates our commitment to investors and the priority that we are placing on growing our ILS business.”
Commenting on his new role, Caponigro said, “I’m excited to join AXIS, a leading underwriter and portfolio manager. I am impressed by the Company’s ability to customize portfolios for partners and its strong emphasis on service and responsiveness.
“AXIS has a terrific platform and I believe there is significant potential to further grow the business while leveraging our ability to provide investors with broad access to the global specialty insurance and reinsurance markets.”
Prior to Mt. Logan Re, Caponigro served as Head of North American Catastrophe Lines at Platinum Underwriters Bermuda. Earlier in his career, he held senior reinsurance underwriting and corporate roles with increasing levels of authority at Platinum and St. Paul Re.
The rebranded AXIS ILS aims to “match the right risk with the right capital” and leverages its integrated model to package risk and execute transactions.
AXIS states that the ILS team is lean and nimble, and is therefore able to adapt quickly to changing market conditions.