Mereo Insurance coverage is a Bermuda-based (Re)insurance coverage Begin-Up
The Andover Firms, one of many largest and longest-standing mutual insurance coverage teams within the Northeast, is happy to announce a strategic funding in Mereo Insurance coverage, a Bermuda-based (re)insurance coverage start-up positioned to rework the market with progressive capital methods and a distinguished management crew.
The Andover Firms closed its funding in Mereo Holdings Restricted, father or mother firm of Mereo Insurance coverage Restricted, on January 31, 2025. Mereo Holdings and Mereo Insurance coverage are chaired by former AIG Government Chairman and CEO, Brian Duperreault. Mereo Insurance coverage has obtained a monetary power ranking of A- from AM Greatest, affirming its monetary stability and skill to satisfy its obligations, and is actively writing enterprise for February reinsurance renewals. The corporate will focus its diversified portfolio throughout roughly 25 traces of enterprise, together with property, casualty, and specialty insurance coverage and reinsurance. Mereo’s crew, led by CEO David Croom-Johnson (not too long ago retired CEO of AEGIS London), President Neil Robust (most not too long ago CEO of IQUW ILS Ltd.), CIO Lawrence Minicone (most not too long ago Head of Analysis at Tekmerion Capital Companions and previously of Bridgewater Associates), and Deputy CUO Richard Holden (most not too long ago CUO of Fidelis Bermuda and World CEO of Reinsurance and Capital Administration), brings intensive experience to the (re)insurance coverage house.
Brian Duperreault expressed his enthusiasm for the partnership, stating, “We’re happy to have partnered with The Andover Firms, a first-class group and administration crew.”
“The Andover Firms is happy to assist Mereo Insurance coverage in launching its (re)insurance coverage platform,” mentioned Chuck DiGrande, President and CEO of The Andover Firms. “Mereo’s seasoned management and progressive technique align with our imaginative and prescient of diversifying into new lessons of enterprise and geographic markets. We consider this partnership will drive long-term worth and additional strengthen our portfolio.”
About The Andover Firms
The Andover Firms is without doubt one of the largest and longest-standing property and casualty mutual insurance coverage teams within the Northeast, writing enterprise throughout Massachusetts, Maine, New Hampshire, Rhode Island, Connecticut, New York, New Jersey, and Illinois. Our three distinct insurance coverage corporations, Merrimack Mutual, Cambridge Mutual, and Bay State, allow us to supply a variety of protection options and companies that defend private and industrial properties and their house owners from danger. As our firm approaches its 200th yr in enterprise, we’re simply as dedicated as our founders had been to defending our policyholders and persevering with to construct essentially the most dependable community of native and unbiased insurance coverage brokers within the area. Constantly rated “A” or greater by AM Greatest for over a century, we show an unwavering ambition to safeguard our neighbors and communities.
About Mereo Insurance coverage
Mereo is an progressive (re)insurance coverage platform targeted on remodeling the worldwide property, casualty, and specialty markets. Mereo delivers cutting-edge options to satisfy the evolving wants of the (re)insurance coverage trade. Mereo is led by a crew of seasoned executives with many years of mixed expertise in reinsurance, funding administration, and capital markets. Mereo Insurance coverage Restricted is licensed by the Bermuda Financial Authority and has obtained a monetary power ranking of A- from AM Greatest.
