Canopius lures former AXA XL reinsurance chief to tap ‘attractive’ market

Global specialty re/insurer  Canopius Group has brought in a Bermuda veteran and  former AXA XL’s reinsurance chief to drive its global reinsurance business strategy, capitalising on “attractive” market conditions in reinsurance, where it sees opportunities to be “distinctive”.

Charles Cooper (pictured) has been appointed as the new global head of reinsurance and Canopius’ Bermuda CEO. Reporting to Canopius Group CEO Neil Robertson, Cooper will join the company’s leadership team when he assumes his new role in September.

Cooper comes to Canopius from AXA XL, where he most recently served as the chief executive for reinsurance in Bermuda, a role he held since 2017. Cooper has worked in the Bermudian reinsurance sector for nearly 20 years and is one of the island’s most respected and experienced senior executives.

As reinsurance CEO at AXA XL, Cooper was responsible for the business’ global reinsurance operations and a member of the AXA XL leadership team and AXA Partners Group. He led a large team and had responsibility for the profitability of a multi-billion-dollar global portfolio. He also established and implemented a global reinsurance strategy and operating model following the acquisition of XL Group by AXA in 2018.

In his new role, Cooper will be tasked with driving Canopius’s global reinsurance business strategy, capitalising on attractive market conditions in reinsurance. He will work with Canopius’s teams of reinsurance professionals in Bermuda, London and Singapore to develop a more significant growth driver for the business.

Additionally, Cooper will be tasked with further developing Canopius’s Bermuda platform, which was established in 2007. In 2021, Canopius was granted a Class 4 Reinsurer license by the Bermuda Monetary Authority, expanding the business’ scope and allowing Canopius to take advantage of more opportunities in the market.

Robertson, who also serves as the interim CEO of Canopius Re, said: “I am thrilled to welcome Charles to Canopius. We are gearing up to take full advantage of the opportunities for Canopius in Bermuda and develop it alongside the exciting growth plans we have for our business, and our people in the UK, APAC and the US.”

“We see opportunities where we can be distinctive in the global reinsurance market, and within Bermuda. We believe Charles is the right person to lead these initiatives and position us for sustained success” Robertson added.

Cooper said: “It’s a hugely exciting time to be joining Canopius and I am eager to begin developing what is already a well-respected business. Further, I am looking forward to leading a very talented team of reinsurance professionals across Canopius’s businesses in London, APAC and here in Bermuda.”

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