Hamilton, Bermuda (July 15, 2026) — The Association of Bermuda Insurers and Reinsurers (ABIR) is pleased to welcome Mereo Insurance Limited as its newest full member, further strengthening Bermuda's position as the world's leading risk transfer and reinsurance marketplace.

Launched in February 2025, Mereo is a Bermuda-based reinsurance platform led by industry veterans Brian Duperreault, Executive Chairman, and David Croom-Johnson, Chief Executive Officer. The company entered the market with more than $500 million in initial capital, full approval from the Bermuda Monetary Authority, and an A- (Excellent) financial strength rating from AM Best. It is now authorized to write both direct and reinsurance business in Bermuda. Mereo combines traditional reinsurance underwriting with capital markets solutions and was established to address growing global demand for property, casualty, specialty, and alternative risk transfer capacity. The company has outlined ambitious plans for growth across global reinsurance markets while leveraging Bermuda's deep talent pool, regulatory framework, and capital ecosystem.

Mark Cloutier, Chair of ABIR, said: "Mereo's arrival reflects the continued confidence that global investors and industry leaders have in Bermuda as the premier jurisdiction for insurance and reinsurance innovation. Under the leadership of Brian Duperreault, David Croom-Johnson, and their experienced team, Mereo has quickly established itself as an important new participant in the global risk transfer marketplace. We are delighted to welcome Mereo to ABIR membership and look forward to working together to advance Bermuda's leadership position."

David Croom-Johnson, Chief Executive Officer of Mereo Insurance Limited, said: "We are pleased to join ABIR and become part of Bermuda's leading insurance and reinsurance industry association. Bermuda offers a unique combination of talent, regulatory excellence, and access to global capital, which aligns perfectly with Mereo's long-term vision. We look forward to working alongside fellow ABIR members to support the continued growth and success of Bermuda's risk transfer market while delivering innovative solutions to our clients around the world."

John Huff, CEO of ABIR, said: "ABIR welcomes Mereo as an innovative new entrant to Bermuda's insurance and reinsurance market. ABIR's primary mission is advocacy, and we are proud to represent the public policy interests of Bermuda's leading international insurers and reinsurers both locally and globally. We look forward to working closely with David, Brian, and the entire Mereo team as they build their business and contribute to Bermuda's continued success as the world's leading risk transfer marketplace."

ABIR member companies continue to demonstrate the strength and importance of Bermuda's insurance and reinsurance market. According to ABIR's latest Global Underwriting Report, member companies recorded a 10% year-over-year increase in gross written premium in 2024, reaching more than $188 billion, while total equity increased by 8.5% to $178 billion. These results reflect the financial strength and resilience of Bermuda's leading insurers and reinsurers, which provide critical risk transfer solutions to businesses, governments, and communities in more than 150 countries worldwide.

ABIR members are also among Bermuda's most significant economic contributors, supporting thousands of jobs, investing in local talent development, engaging extensively with Bermuda charities and community organizations, and represent many of the island's largest contributors under Bermuda's Corporate Income Tax regime.

Founded in 1993, ABIR represents Bermuda's leading commercial insurers and reinsurers. For more than three decades, Bermuda's risk-bearing capacity has helped make insurance more accessible and affordable around the world while providing protection against catastrophe, climate, cyber, casualty, mortgage, and specialty risks.

Additional information about ABIR and its members can be found at: http://www.abir.bm.

Editor’s Notes

About Mereo Insurance Limited

Mereo Insurance Limited is a Bermuda-based reinsurance platform providing property, casualty, specialty, and capital markets risk transfer solutions. Founded in 2025, the company combines traditional reinsurance underwriting expertise with innovative capital markets capabilities to deliver flexible and scalable solutions to clients worldwide. Mereo is licensed by the Bermuda Monetary Authority and holds an A- (Excellent) financial strength rating from AM Best.

About ABIR

The Association of Bermuda Insurers & Reinsurers (ABIR) represents Bermuda's leading commercial insurers and reinsurers. ABIR member companies provide risk transfer solutions in more than 150 countries and are global leaders in catastrophe, climate, cyber, casualty, mortgage, and specialty reinsurance. In 2024, ABIR members generated more than $188 billion in gross written premium and maintained total equity of $178 billion, reflecting Bermuda's critical role in supporting global economic resilience through risk transfer and insurance innovation.