TEAM

Global Leadership Team

Carlo Elsinghorst

Group CEO

Carlo Elsinghorst

Group CEO

Carlo originally joined Monument in 2020 as CEO Ireland and was appointed Group CFO in April 2022. Prior to joining Monument, Carlo held positions in the life and pensions industry in Ireland, The Netherlands and the UK for over 20 years, including CFRO of Monuta Holding in The Netherlands, CFO of Friends First in Ireland and CRO & Interim CEO of Eureko Reinsurance Ireland. He also held senior management positions at Achmea in The Netherlands.

Before entering into managerial roles, he worked as a consulting actuary at Mercer in London. Carlo holds a Master’s degree in Mathematics from Delft University of Technology, qualified as an actuary and completed an MBA at INSEAD in France.

Stephen Lee

Chief Financial Officer

Stephen Lee

Chief Financial Officer

Stephen was appointed Group Chief Financial Officer in 2023 after joining Monument Re earlier in the year as Group Head of Reporting and Control. Prior to joining Monument, Stephen held positions in the life and pensions industry for over 18 years, including CFO and CRO of AXA Life Europe.

Before entering into managerial roles, he worked in actuarial roles at SunLife Financial in Toronto and Friends First in Dublin. Stephen holds a degree in Financial and Actuarial Mathematics from Dublin City University and is a Fellow of the Society of Actuaries in Ireland.

Alex Brogden

Chief Underwriting Officer

Alex Brogden

Chief Underwriting Officer

Alex is a Fellow of the Institute of Actuaries with over fifteen years of experience in the life industry. His previous role was Senior Corporate Actuary at the Phoenix Group, where his role included pricing and capital structuring of acquisitions and reinsurance, managing the Group’s defined benefit pension schemes and developing significant capital management actions.

He was previously Pricing Actuary at Admin Re (part of the Swiss Re Group), pricing closed fund transactions, including the c.GBP750m acquisition of Barclays Life. Prior to that, Alex was a Life Insurance Consultant at Willis Towers Watson and worked on a number of client projects, across the UK, Europe, US and Asia.

Neil Burt

Group Chief Actuary

Neil Burt

Group Chief Actuary

Neil is a Fellow of the Institute of Actuaries with over fifteen years of experience in the life industry and a First Class Honours degree in Mathematics. Neil was previously the Approved Actuary and Head of Actuarial Reporting for Legal & General Re, responsible for reporting the actuarial liabilities of the Company. As Approved Actuary, he was responsible for providing an opinion on the sufficiency of the long-term reserves of the Company and supporting the regulatory requirements to the Bermuda Monetary Authority.

Prior to Legal & General Re, Neil transferred from within the Legal & General Group in the UK where he worked within the Legal & General Retirement Finance team. In the UK, Neil supported the development of the Solvency II reporting, strategic planning and the international expansion of the Retirement Division. Prior to Legal & General, Neil was an Actuarial Manager at Deloitte working on a number of Solvency II and M&A projects.

Paul Stanworth

Group Chief Investments Officer

Paul Stanworth

Group Chief Investments Officer

Paul has over 30 years’ experience in institutional investments and finance covering a wide range of markets including private and public credit, venture capital, private equity, real estate, derivatives and interest rates. Through his career, Paul has built several start-up teams and businesses within corporate investment functions and treasury operations in Europe and the US. Prior to joining Monument Re, Paul was CEO 777AM, a startup US based asset manager supporting a Bermudan reinsurer. This followed a role as CEO Legal General Capital where Paul built a private investments platform to support the insurer and oversight of the insurers long-term credit funds. Earlier in his career, Paul worked in investment banking and fund management, including Head of Credit at Prudential M&G. Paul holds a BSc from the University of London and professionally qualified as an actuary.

Fiona Davies

Group Chief of Staff and Bermuda Country Manager

Fiona Davies

Group Chief of Staff and Bermuda Country Manager

Fiona is a Fellow of both the Academy of Life Underwriting and the Life Management Institute with over 25 years of experience in the life insurance industry.  Fiona was previously the Transactions Manager for Monument Re before assuming the role of Group Chief of Staff in March 2022.  Prior to joining Monument Re Fiona held the position of Senior Underwriter for Hannover Life Reassurance Bermuda Ltd, a role which included traditional mortality and longevity underwriting, underwriting manual development and mortality evidence-based research projects.  Prior to Hannover Re, Fiona was an Assistant Vice President at BF&M Insurance Group with responsibility for various underwriting and policy administration functions.

Jon Bird

Group Head of Compliance

Jon Bird

Group Head of Compliance

Jon has nearly 40 years of experience within the Financial Services sector with last 25 years in the Compliance field. Prior to joining Monument, Jon was Compliance Assurance Director with Aon. Before that he has had a number of roles covering compliance, risk, financial crime, data protection and governance with providers of life, pensions, general insurance, savings and investments products covering both UK and international jurisdictions. These roles have included being a Money Laundering Reporting Officer and Data Protection Officer.

Riya Sen Gupta

Group General Counsel

Riya Sen Gupta

Group General Counsel

Riya is an English qualified lawyer with over twelve years’ experience in the financial services industry. Prior to starting her current role, she spent her career as a corporate lawyer at the international law firm Clifford Chance LLP, most recently holding the role of Director of Insurance: Transactions and Regulation. Riya has a wealth of experience in advising on complex M&A, corporate restructurings, reinsurance and distribution arrangements for (re)insurers and other financial institutions across the UK, Europe, US and Asia.

Chris Carson

Director of Group Services

Chris Carson

Director of Group Services

Chris is an operational strategy and change expert and has delivered restructurings, mergers, demergers and transformations for a number of companies over the past 15 years including M&G Prudential, Direct Line, MetLife, AVIVA, and HBOS. He was an insurance Consulting Partner at PwC and also led their EMEA Insurance Advisory practice from 2013 – 2015.

He began his career as a management trainee with Aachen Re in the US and moved with them to Ireland in 1993. He worked with Scottish Amicable and St. James’s Place Capital in Dublin before moving into management consulting with Deloitte Bacon & Woodrow and then PwC in the UK. Before joining Monument Re Chris led the operational separation of M&G Prudential from Prudential Group ahead of their listing on the LSE.

Gemma Cerasi

Group Head of Human Resources

Gemma Cerasi

Group Head of Human Resources

Gemma has over 15 years experience within the Financial Services and IT sector. Prior to joining Monument Gemma’s last role was Head of HR for Ark Life. Prior to that she held various senior HR roles within Aviva at a local and European level across their Life and Pensions and General Insurance businesses. Gemma started her career with Oracle where she previously held positions within their Learning and Development division.

Jon Macdonald

Group Chief Risk Officer

Jon Macdonald

Group Chief Risk Officer

Jon was appointed Group Chief Risk Officer in 2023. He is an experienced business executive and CRO, latterly as Executive Director and Group CRO of Royal London Mutual Insurance, a FTSE-100 sized business. He has also been the Group CRO of RSA plc and Prudential plc, and has held various risk, capital management, reinsurance and corporate finance roles across Europe

Jon is a qualified actuary and holds a BSc (Hons) in Actuarial Mathematics and Statistics from Heriot Watt University.

Soraya Catanzaro

Group Head of Internal Audit

Soraya Catanzaro

Group Head of Internal Audit

Soraya was appointed Group Head of Internal Audit in 2024. She has over 20 years of internal and external audit experience within financial services, including life insurance. Prior to joining Monument, Soraya held senior internal audit roles at Aviva Plc and most recently Prudential plc where she was an Internal Audit Director. Soraya has extensive experience in conducting audits of financial and capital reporting frameworks, business transformation activities, risk and regulatory management frameworks as well as insurance operations.

Soraya began her career in external audit with PWC in Trinidad and Tobago before relocating to London and working at KPMG. Soraya is a Fellow of the Chartered Association of Certified Accountants and a Certified Internal Auditor.

Koen Depaemelaere

Chief Executive Officer, Belgium

Koen Depaemelaere

Chief Executive Officer, Belgium

Koen has more than 15 years of relevant experience in the BeNeLux insurance market and was Director and CEO of the Life Insurance business of AXA Belgium. He held a mandate as President and previously CEO of AXA Private Management. He was also the CEO of the largest BeNeLux broker Vanbreda Risk & Benefits.

He has led several digital transformations as CEO Portima/Assurent, the leading IT-Platform in the Be Insurance sector, Chief Transformation Officer at SD Worx and CCO at Banksys/Worldline. Koen holds a Masters of Engineering Science (ir.) from KU Leuven and an MBA from Vlerick Business School.

Olivier Schmidt-Berteau

Chief Executive Officer, Luxembourg

Olivier Schmidt-Berteau

Chief Executive Officer, Luxembourg

Olivier has twenty-one years experience in the insurance industry. He has served in Luxembourg since December 2006, first as Risk Manager and Financial Controller, then Chief Financial Officer and finally from June 2010 as Chief  Executive Officer of Aspecta Luxembourg International S.A., a company of the Talanx Group. In his latest function, he had responsibility to set up the run-off of the company. From June 2009 Olivier was also Executive Director of the finance and investment company of  the Group in Luxembourg, Talanx Finanz (Luxemburg) S.A. From June 2009, Olivier also held this position within EURO International Reinsurance S.A. Luxemburg to prepare and complete the sale of the company one year later. Prior to that, Olivier had nearly 10 years of experience in Germany in a number of senior management roles primarily in Risk Management and Financial Controlling with Gerling Beteiligungs-GmbH, Gerling G&A Versicherungs-AG and General Accident Versicherungs-AG. Olivier graduated from the Institut d’Etudes Politiques de Paris and holds a law degree.

Duncan Robertson

Chief Executive Officer, Crown Dependencies

Duncan Robertson

Chief Executive Officer, Crown Dependencies

Duncan joined Monument in April 2023 and has worked for over 30 years’ experience in the financial services sector, operating at CEO and Board Director level in the insurance and pensions industries.

Prior to joining Monument, Duncan was with Fidelity International. Duncan joined Fidelity as CEO of its Irish life insurance company before then becoming CEO of FIL Life, Fidelity’s UK life insurance company. Within Fidelity Duncan was also Head of Cross Border Workplace Investing, with responsibility for its Pan European and Global solutions. In these roles Duncan held Board Director positions of regulated insurance and pension companies in the UK, Ireland and Luxembourg.

Duncan has previously held senior positions at a range of other insurance companies and actuarial consultancies. These include Aegon Ireland, as Marketing Director and interim COO, Aviva Europe as Retirement Product Director, and Director positions at PwC and Boal & Co (a boutique cross border actuarial consultancy).

Duncan is a Fellow of the Society of Actuaries in Ireland (SAI) and has been involved in various pensions and insurance industry bodies and initiatives both in Ireland and Europe. He is a past Council member of the Society of Actuaries in Ireland and is currently a member it’s Cross Border Life Committee. Past roles also include being a member of the Department of An Taoiseach’s Working Group on Cross Border Pensions, Chair of the SAI’s Retirement Actuary of the Future Working Party and Chair of the Actuarial Association of Europe’s (AAE) Pensions Decumulation Working Party.

David Healy

Chief Executive Officer, Ireland

David Healy

Chief Executive Officer, Ireland

David has more than 30 years’ experience in the International Insurance Industry , specialising in the cross border, pan EMEA, Life, Health and Employee Benefits markets. Prior to joining Monument as CEO of the Irish company, David was the CEO of Aetna International Health Insurance Europe based out of London, before moving to Dubai to take the role of CEO of the EMEA region for Aetna. David was also a Board Director of Aetna’s operations in India.

David began his career in the International cross border market with J Rothschild International in Dublin before moving to Luxembourg as Managing Director of Scottish Equitable International. David then returned to Ireland to take up the role of CEO at the launch of Aegon Ireland, leading the introduction of the first Variable Annuity products sold into Europe.

David holds a BA (Hons) degree in Insurance Management and is an Associate of the Chartered Insurance Institute (ACII). He is also a qualified Chartered Director with the Institute of Directors. 

DIRECTORS

Clive Rowe

Group Chairman

Clive Rowe

Group Chairman

Until October 2019 Clive was a general partner and managing member of Oskie Capital Management, a New York based investment fund focused on companies going through significant transformations. He founded the firm in 2010 and was a Portfolio Manager responsible for investments in media, telecom, energy and health care including managed care organisations (health insurers).

Prior to founding Oskie Capital, Clive was a partner at SLS Capital, a New York based long short equity fund which he co-founded in 1999. Prior to his career in the investment business, Clive worked at Monitor Company, a strategy consultancy where he co-led the restructuring group. Clive is currently a Board member of E-L Financial, a Toronto based holding company with a portfolio of investments.

Michael Hermann Winkler

Director

Michael Hermann Winkler

Director

Michael is an Actuary and member of the Swiss Actuarial Association. He is the Managing Director of RefinSol GmbH, of which he is also the founder and Executive Director, providing consulting services for international (re)insurance companies. Michael has also served as CEO of WRM Reinsurance AG, a specialised carrier for bespoke reinsurance transactions for life insurance companies in the area of Financial Solutions. Michael brings over thirty years of experience to Monument Re, having covered multiple roles in the life (re)insurance industry since 1980.

Carlo Elsinghorst

Group CEO and Director

Carlo Elsinghorst

Group CEO and Director

Carlo originally joined Monument in 2020 as CEO Ireland and was appointed Group CFO in April 2022. Prior to joining Monument, Carlo held positions in the life and pensions industry in Ireland, The Netherlands and the UK for over 20 years, including CFRO of Monuta Holding in The Netherlands, CFO of Friends First in Ireland and CRO & Interim CEO of Eureko Reinsurance Ireland. He also held senior management positions at Achmea in The Netherlands.

Before entering into managerial roles, he worked as a consulting actuary at Mercer in London. Carlo holds a Master’s degree in Mathematics from Delft University of Technology, qualified as an actuary and completed an MBA at INSEAD in France.

Lesley Caslin

Director

Lesley Caslin

Director

Lesley is a Chartered Accountant and has over 30 years’ experience in the (re)insurance industry in the UK, Bermuda and Ireland, including 8 years in audit specialising in insurance. Lesley has held a number of senior positions, including the position of Chief Financial Officer of XL Re Latin America Ltd. in Bermuda, Director of Finance and Operations for Catlin Insurance, Bermuda and Chief Risk Officer at SureStone Insurance dac in Ireland. She also acted as an Independent Risk Advisor to the Insurance Division of the Central Bank of Ireland from 2012 to 2016. She is currently an independent non-executive director of Aviva Insurance Ireland, dac, Monument Life Insurance dac, and ITX Re dac and a director of the CARI Foundation, a charitable organisation.

Robert Morgan

Director

Robert Morgan

Director

Rob currently serves as the Chief Executive Officer, Enstar Bermuda & Vice President, M&A. In his current role, he has responsibility for shaping and executing the companies’ strategies, engaging with boards, connecting with stakeholders, and overseeing the Bermuda executive team. Rob has over 12 years’ experience in the (re)insurance industry and has been with Enstar since 2015. Prior to joining Enstar, Rob worked at KPMG. Rob is a Fellow Chartered Accountant with the Institute of Chartered Accountants in England and Wales.

Michael Kastenholz

Director

Michael Kastenholz

Director

Michael is an Actuary and a member of the German Actuarial Association with over 30 years of experience in the (re)insurance industry. He is the owner and Managing Director of endeavarisk Beteiligungen GmbH which renders consulting services to international (re)insurance companies, with a focus on Financial Solutions and Asset Intensive Reinsurance. Michael has held several senior positions in (re)insurance companies, including the position of Chief Financial Officer of Revios Reinsurance Group and SCOR Global Life Group, non-executive director of Viridium Group and, currently, non-executive director of Newline Europe.

Monika Machon

Director

Monika Machon

Director

Monika Machon is an experienced investment executive and non-executive director with over 35 years’ experience in global asset management. She served on the Board of GAM Holding AG, a Swiss listed company, from 2019 to 2023, chairing GAM’s Risk Committee (2019-2023) and Audit Committee (2023). She served on the Board of Embark Investments Limited from 2020 to 2023. Monika currently serves as a Director of the Tanenbaum Center for Interreligious Understanding (a US non-profit organisation) and is on the Board of Advisors of Rebalance Capital, an early-stage venture firm that invests in technologies propelling upward social mobility for low- and middle-income communities in the Americas.

Monika was a Senior Vice President at AIG (2009 to 2016), in roles including Treasurer, Chief Investment Officer, and CEO of AIG Investments Europe Limited. She holds a BSBA (Management) from Rockhurst College, as well as an MBA (Finance) and a Juris Doctor from Indiana University. Monika is a CFA Charterholder.

CONTACTS

Monument Re

Crown House
4 Par-la-Ville Road
Hamilton HM08
Bermuda

+1 441 400 9300

Monument Life Insurance DAC

Two Park Place,
Upper Hatch Street,
Dublin 2
Ireland

Monument Assurance Belgium S.A.

Boulevard du Roi Albert II 19 - 1210 Brussels – Belgium

+32 (0) 78 050 006 | +32 (0) 4 232 44 11  

Monument Assurance Luxembourg S.A.

Atrium Business Park
29, rue du Puits Romain
L- 8070 Bertrange
Luxembourg

+352-264 98 1

Monument International Life Assurance Company Limited

St George’s Court
Upper Church Street
Douglas
Isle of Man IM1 1EE

+44 1624 683 683

 

Monument Re Limited © 2024 All rights reserved  | Terms of UsePrivacy Policy Cookies PolicyCompany Registrations | Tax Strategy