Somerset Re appoints new CIO

Somerset Reinsurance has appointed Josh Braverman to the positions of chief investment officer and a member of the company's executive leadership team.

Braverman has overall responsibility for all of the company's asset management activities and will chair the firm's investment and investment advisory committees.

He will report to Somerset Re chief executive officer Patrick Kelleher and will be based in Bermuda.

Braverman joins Somerset Re from AXA, where he was senior executive director and head of legacy business for AXA US in New York as well as president and chief executive officer of AXA Corporate Solutions Life Re.

Previously he served as AXA US chief investment officer, treasurer and head of derivatives, responsible for $80 billion of general account investments across multiple asset classes.  He has also held senior executive positions with AEGON, including executive vice president and global head of derivatives in The Hague, Netherlands.

"We are very pleased to welcome Josh Braverman as our new chief investment officer," said Kelleher. "In addition to his responsibilities for oversight and management of our company's asset management and derivatives hedging programs, Josh will play an important role in the development of life and annuity reinsurance solutions for our clients."