NAME: Chris Caponigro
NEW JOB TITLE: New York-based global head of insurance-linked securities, Axis Capital Holdings Ltd.
PREVIOUS POSITION: New York-based global head of insurance-linked securities, Axis Capital Holdings Ltd.
INDUSTRY OUTLOOK: Risk to be (re)insured will continue to grow for generations. Types of risk will evolve, but people and companies will always need to manage risk through innovative ways provided by (re)insurance. Private investors increasingly find value in supporting asset classes, such as insurance-linked securities, that provide stable issuance supported by prudent assessment and management of the underlying risk and return.
GOALS FOR NEW POSITION: Bring awareness to private capital investors of the underwriting excellence at Axis and the non-correlating asset class of insurance-linked securities.
CHALLENGES FACING THE INDUSTRY: Recency bias raising concern over a number of industry losses in the last four years, and investor experience with ILS managers that perhaps do not have access to the top quartile portfolio of (re)insurance business.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: Forensic facultative ceded analysis for 1960-1970s claims on noise-induced hearing loss, and asbestosis to reinsurers that were largely insolvent then. This experience was an eye-opener in that a policy is only as good as the promise and ability of the (re)insurer to pay today, tomorrow or 50 years from now.
ADVICE: Find a great mentor and advocate to discuss your next steps in your career. The (re)insurance business changes and adapts to the economy and world that surrounds us, you will always have access to participate on teams for innovative projects if you position yourself well.
OUTSIDE THE INDUSTRY, A DREAM JOB: Playing a role in the historic building preservation of Nantucket.
COLLEGE MAJOR: B.S. accounting, emphasis in finance and real estate; MBA finance, concentration in investments
LOOKING FORWARD TO: Contributing in a truly collaborative environment with teammates that are performing at the top of their game. Building upon the existing strengths of the Axis ILS platform, and showcasing Axis talent to investors around the globe.
FAVOURITE MEAL: Its a tie between homemade pizza and homemade pasta, especially with anchovy and green olive sauce
BOOK: When Genius Failed, by Roger Lowenstein
HOBBIES: Fitness, travel and gardening
TV SHOW: The drama suspense series on Amazon Prime called The Patriot
ON A SATURDAY AFTERNOON: Supporting my childrens participation in competitive sports.
