Northern Re, a specialty reinsurance group focused on high-frequency, low-severity property and casualty portfolios, has announced that its in-force premium has surpassed $1 billion.
Northern Re has participated in more than 100 bespoke reinsurance contracts across treaty, legacy and whole-account solutions since commencing underwriting in January 2023. Committed capital has increased from $25 million to $325 million.
Northern Re launched as a business focused primarily on the MGA and programme market, but now spans traditional insurance company and retrocession opportunities globally.
While MGA business remains a cornerstone of the portfolio, Northern Re now supports re/insurance companies across multiple product lines.
Structured quota shares represent the majority of the company’s assumed premium, reflecting growing demand from cedents seeking capital relief, earnings stability and longer-term partnerships.
Northern Re maintains an average line size of approximately $20 million, while selectively deploying more than $100 million on individual opportunities where conviction is highest.
Vincent Pomo, FCAS, Chief Underwriting Officer of Northern Re, said, “Our ability to form deeper partnerships with cedents and execute complex transactions has driven additional demand for Northern capacity.
“We have never grown for the sake of top line growth. We have scaled the business because the underwriting results have earned us that right, giving our investors, cedents, and capital partners confidence in what we are putting on our books.”
Anthony McKelvy, Co-Founder and Managing Partner of Northern Re, added, “We’ve taken a hybrid approach to the business which allows us to be genuinely creative in how we solve problems.
“We can offer cedents the speed and creativity they associate with the capital markets, paired with the longevity and comfort of a reinsurance company they know is focused solely on this asset class. That combination is increasingly what cedents are looking for, and it is difficult to replicate from either side of the market alone.”
Looking ahead to year-end 2026 and into 2027, Northern Re expects continued growth across structured solutions, retrocession and bespoke casualty transactions, supported by a growing investor base and increasing demand for alternative sources of capital.
