AXIS poaches new global head of ILS from Everest as it revamps business

Bermuda-based re/insurer  AXIS Capital Holdings has hired a new global head of insurance-linked securities (ILS) from Everest, and announced the rebranding of its third party capital business as  AXIS ILS.

Chris Caponigro will join the company as global head of AXIS ILS. He will oversee AXIS’ activities related to third party capital under management and support efforts across its reinsurance and insurance segments.

He was previously head of business development at Mt. Logan Re/Everest Re, where he led investor relations and global capital fundraising responsibility for the private capital arm of Everest. He has also served as head of North American catastrophe lines at Platinum Underwriters Bermuda, and has nearly thirty years of re/insurance industry experience.

Caponigro will report to Steve Arora, chief executive officer of AXIS Re, and will work in both the New York and New Jersey offices.

Arora said: “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.”

Arora added: “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.”

Caponigro said he was impressed by AXIS’ ability to customise 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,” he said.

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