Somerset Reinsurance Ltd has appointed Josh Braverman as chief investment officer and a member of the company’s executive leadership team.

Mr Braverman, who will be based in Bermuda, has overall responsibility for all of the company’s asset management activities and will chair the firm’s Investment and Investment Advisory Committees.

Mr 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 CEO 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.

Mr Braverman has also held senior executive positions with Aegon, including executive vice-president and global head of derivatives in The Hague, Netherlands.

He will report to Somerset Re CEO Patrick Kelleher.

Somerset Re provides customised risk management solutions to the life insurance and annuity sectors.

Mr Kelleher said: “In addition to his responsibilities for oversight and management of our company’s asset management and derivatives hedging programmes, Josh will play an important role in the development of life and annuity reinsurance solutions for our clients.”

Mr Braverman has a bachelor of science degree in economics from The Wharton School, University of Pennsylvania.