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The executive has 15 years of experience in meteorology and cat analytics.
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The line is being launched by Joe Cala and Scott Harper, sources said.
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Eric Seyfried and Glen Manjos are also departing Axis’ cyber and tech unit.
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The executive will be responsible for leading E&S primary and excess casualty.
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The broker has been building out its Bermuda reinsurance presence.
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Muñoz was also Aon Re chairman for the Latin American region.
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The executive was previously president of insurance programs.
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The executive will remain CEO of reinsurance until September 1.
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The executive said he left the company in September.
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The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
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The executive has over 30 years of finance and industry experience.