Validus Re, the Bermuda-based 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 Specialties 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 inbound reinsurance underwriting and outbound retrocession execution for all lines.
As noted in the memo, DeCouto brings more than two decades of industry experience to his new role and has been instrumental in developing new business opportunities and advancing new initiatives at Validus Re.
He first joined the reinsurer more than 15 years ago during its start-up phase. Earlier in his career, DeCouto worked at PartnerRe for eight years.
“Having worked closely with Jesse, I am very pleased to have him take on this key role at Validus Re. His expertise, industry and Validus-specific experiences, and dedication will stand us in good stead as we meet the challenges ahead. and advancing our overall business,” Schaper said.