Bermuda-based re/insurance start-up, Mereo Insurance, sees the current market opportunity as very attractive and is expected to be operational for the January 1st, 2025, reinsurance renewals.
As reported by our insurance-linked securities (ILS) focused sister publication, Artemis, the formation of Mereo Insurance has been in the works for some time.
Industry veteran and former CEO of AIG, Brian Duperreault, serves as the firm’s Chairman, with David Croom-Johnson, former Aegis London CEO, set to take on the dual role of CEO and CUO, and Richard Holden, the former CUO of Fidelis’ Bermuda arm and its Global CEO of Reinsurance, set to assume the role of CUO at both Mereo ILS and DCUO of Mereo Insurance.
Federico Waisman will be Chief Analytics and Risk Officer for the company, and Jason Miller has joined to lead commercial efforts, with Jonathan Reiss named interim CFO of Mereo, while maintaining his seat at Strategic Risk Solutions.
Additionally, Reinsurance News understands that Lawrence Minicone, a former Head of Research at hedge fund Tekmerion and previously Bridgewater, will be the CIO for the Mereo re/insurance unit.
As reported by Artemis, Mereo is working to finalise equity and seed capital for its ILS fund, which has been designed to compound returns for its investors and mitigate risk to capital.
As we understand, the startup will look to leverage both traditional and alternative reinsurance worlds to drive capital efficiencies and generate solid returns.
