AXA XL to expand its ceding capacity to third party capital

AXA XL is to expand its third party capital offering and ceding capacity with the appointment of a veteran insurance-linked securities executive. 

Chris Caponigro has joined AXA XL as head of reinsurance capital management. He was previously global head of ILS at Bermuda-based AXIS Capital. 

Caponigro will further expand the product offering and investor base by continuing to develop the team’s infrastructure and strategy.

Guy Van Hecke, Head of Ceded Re, said: “Third-party capital continues to demonstrate a strong appetite for insurance-linked securities (ILS). This demand aligns with our own strategy of accessing alternative sources of ceding capacity as part of our growth plans.

“We have an existing and established team in this space, and our expertise and offering will be further strengthened by Chris’ appointment. Chris brings a wealth of industry

experience, and his technical risk capabilities and financial structuring skillset will be key in achieving our strategic goals.”

Caponigro, who will be based in the US and will report to Van Hecke, has also held underwriting, finance and business development positions at Platinum Underwriters and Everest Re, both Bermuda-based companies. 

At AXIS Capital he held group level responsibility overseeing the team that designed, implemented and administered private capital investor relationships.

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