A veteran Bermuda insurance executive has been handpicked to develop Canopius Group’s Bermuda platform and grow its reinsurance business.

Charles Cooper, who has been chief executive for reinsurance at Axa XL for six years, will be global head of reinsurance and chief executive of the Bermudian entities of Canopius as of September 1.

Mr Cooper will report to the specialty reinsurer’s group chief executive officer Neil Robertson and will join the Canopius Group leadership team.

He has worked in the Bermudian reinsurance sector for nearly 20 years and Canopius said he is one of the island’s most respected and experienced senior executives.

As reinsurance chief executive at Axa XL, he was responsible for global reinsurance operations and a member of the Axa XL leadership team and Axa Partners Group.

He led a large team and had responsibility for the profitability of a multi-billion-dollar global portfolio.

He also established and implemented a global reinsurance strategy and operating model following the acquisition of XL Group by Axa in 2018.

Mr Cooper will be tasked with driving Canopius’s global reinsurance business strategy. Building on solid foundations and benefiting from attractive market conditions in reinsurance, he will work with Canopius’s teams of reinsurance professionals in Bermuda, London and Singapore, to develop a more significant growth driver for the business.

Mr Cooper will also be tasked with further developing Canopius’ Bermuda platform, which was established in 2007.

In 2021, Canopius was granted a Class 4 Reinsurer licence by the Bermuda Monetary Authority, which significantly expands the business’ scope and will allow Canopius to take advantage of more opportunities in the market.

Mr Robertson, who also serves as the interim chief executive of Canopius Re, said: “We are gearing up to take full advantage of the opportunities for Canopius in Bermuda and develop it alongside the exciting growth plans we have for our business, and our people in the UK, APAC and the US.

“We see opportunities where we can be distinctive in the global reinsurance market, and within Bermuda.

“We believe Charles is the right person to lead these initiatives and position us for sustained success.”

Mr Cooper is excited to get started at Canopius. He said: “It’s a hugely exciting time to be joining Canopius and I am eager to begin developing what is already a well-respected business.

“Further, I am looking forward to leading a very talented team of reinsurance professionals across Canopius’s businesses in London, APAC and here in Bermuda.”