Axis Capital Holdings Ltd has appointed Bermuda market veteran Chris Caponigro as global head of the rebranded business segment Axis ILS.

The rebranding of its third party capital unit as Axis ILS was announced by the Bermudian-based re/insurer in tandem with its news of Mr Caponigro’s appointment.

Axis said he will oversee the company’s activities related to third party capital under management, supporting efforts across its reinsurance and insurance segments.

Mr Caponigro will report to Axis Re chief executive officer Steve Arora and will be based out of the company’s New York and New Jersey offices.

Mr Arora said: “Chris brings a unique mix of deep ILS and investor experience, combined with a technical background in underwriting, and strong interpersonal and leadership skills. Our team and our investors will benefit significantly from the expertise, perspective and partnership that Chris brings.

“In recent years, we’ve elevated Axis as a player in the ILS space. The addition of Chris to our team, combined with our rebranding of the business, demonstrates our commitment to investors and the priority that we are placing on growing our ILS business.”

Mr Caponigro, who will join Axis on July 22, said: “I’m excited to join Axis, a leading underwriter and portfolio manager. I am impressed by the company’s ability to customise portfolios for partners and its strong emphasis on service and responsiveness.

“Axis has a terrific platform and I believe there is significant potential to further grow the business while leveraging our ability to provide investors with broad access to the global speciality insurance and reinsurance markets.”

Prior to joining Axis, the company said Mr Caponigro served as head of business development at Mt Logan Re/Everest Re, where he led investor relations and global capital fundraising responsibility for the private capital arm of Everest.

Previously he served as head of North American Catastrophe Lines at Platinum Underwriters Bermuda.

Before that, he held senior underwriting and corporate positions with increasing levels of authority at Platinum and St Paul Re, Axis said.

Mr Caponigro worked at Platinum in Bermuda from 2003 until 2015.

The company said he has nearly 30 years of re/insurance industry experience and holds an MBA from Fairleigh Dickinson University, a bachelor’s degree from Susquehanna University and an executive education certificate from Harvard Business School.

Axis Capital, through its operating subsidiaries, is a global provider of speciality lines insurance and treaty reinsurance with locations in Bermuda, the United States, Europe, Singapore and Canada.