Validus Re, the Bermuda headquartered reinsurance underwriting arm of AIG, has a new Chief Underwriting Officer (CUO) in Jesse DeCouto, according to a company memo seen by Reinsurance News.
DeCouto, who most recently served as Executive Vice President, Head of Specialty and Credit at Validus Re, will also continue to lead the Specialty and Financial lines teams, reporting directly to Chris Schaper, Chief Executive Officer (CEO) of AIG Re, Validus Re, and AlphaCat.
His promotion to CUO of Validus Re is effective immediately, and sees him assume responsibility for global underwriting oversight, including inwards reinsurance underwriting and outwards retrocessional execution for all lines.
As stated in the memo, DeCouto brings more than two decades of experience in the industry to his new role, and has played a key role in developing new business opportunities and progressing new initiatives at Validus Re.
He first joined the reinsurer more than 15 years ago during its early start-up stage. Earlier in his career, DeCouto worked at PartnerRe for eight years.
“Having worked closely with Jesse, I am very pleased he will be taking on this key role in Validus Re. His expertise, industry and Validus-specific experiences, and dedication will serve us well in confronting the challenges ahead and progressing our overall business,” said Schaper.