Jesse DeCouto has been promoted to Chief Underwriting Officer (CUO) of Validus Re, the Bermuda-based reinsurance arm of AIG, in line with an organization memo seen by Artemis.
In a press release to colleagues, Chris Schaper, Chief Government Officer (CEO) of AIG Re, Validus Re, and AlphaCat, the insurance-linked securities (ILS) and collateralized reinsurance funding supervisor entity of AIG, confirmed the speedy appointment of DeCouto as CUO of the reinsurer.
On this capability, he takes on accountability for international underwriting oversight, together with each inwards reinsurance underwriting and outwards retrocessional execution, for all strains of enterprise.
DeCouto has greater than twenty years of trade expertise, most just lately serving as Government Vice President, Head of Specialty and Credit score at Validus Re. Alongside his new tasks as CUO, he may also proceed to steer the Specialty and Monetary strains groups, reporting on to Schaper, based mostly in Bermuda.
He joined Validus Re in its early start-up stage, and the memo notes that he has been instrumental in growing new enterprise alternatives and progressing new initiatives on the firm. Earlier in his profession, DeCouto labored at Bermudian reinsurer PartnerRe for eight years.
“Having labored carefully with Jesse, I’m more than happy he can be taking up this key position in Validus Re. His experience, trade and Validus-specific experiences, and dedication will serve us nicely in confronting the challenges forward and progressing our general enterprise,” mentioned Schaper.