Jesse DeCouto has been promoted to the position of chief underwriting officer at Bermudian-based Validus Re, the reinsurance arm of AIG.

Mr DeCouto will be responsible for global underwriting oversight, including inward reinsurance underwriting and outwards retrocessional execution, for all lines.

He will also continue to lead the specialty and financial lines teams.

Mr DeCouto will report directly to Chris Schaper, CEO of AIG Re, Validus Re, and AlphaCat, and will be based on the island.

He has more than 20 years’ experience in the industry, most recently as executive vice-president – head of specialty and credit at Validus Re, and broad underwriting expertise in property, marine, energy, financial lines and specialty lines.