Somerset Reinsurance Ltd., a provider of asset-intensive reinsurance solutions to the life and annuity market, has hired Steve Belcher from MetLife as its new Chief Financial Officer (CFO), while Joelina Redden has also joined the firm, as Chief Legal Officer (CLO).
The appointments of Belcher and Redden to its leadership team comes after a strong 2025 for Somerset Re, with the carrier achieving its highest deal count to date and a robust period for premium growth.
Belcher is responsible for the reinsurer’s financial and capital management, accounting, tax, and financial reporting. He joins Somerset Re after 15 years at MetLife, most recently as Senior Vice President, Global Controller and Reinsurance CFO. During his time with the firm, he held several senior finance leadership positions, and previously worked for global insurer AIG in numerous senior finance leadership roles.
In her new role, Redden takes on responsibility for complete legal oversight of the company’s operations. She joins Somerset Re from her most recent role as General Counsel, Chief Compliance Officer and Corporate Secretary of Athora Life Re Ltd., and Senior Counsel and Corporate Secretary at Athora Holding Ltd. Earlier in her career, Redden worked at Allied World Assurance Company, Ltd., and before this, served as Counsel at law firm Appleby (Bermuda) Limited.
Danish Iqbal, Chief Executive Officer of Somerset Re, commented: “This is an important moment for Somerset Re. Bringing on Steve and Joelina underscores the growth we’re seeing in our business and our commitment to investing in the right leadership to support our next phase of growth. Both leaders bring deep expertise and leadership that align with the increasingly complex, multi-jurisdictional nature of the transactions we are executing today.”
After a strong 2025, Somerset Re says that it enters this year with significant momentum.
“We are excited to carry this momentum forward into 2026. With our strengthened leadership team, we are well positioned to deepen support for our current clients and forge new partnerships throughout the global life and annuity market,” said Iqbal.
