Mereo Insurance is a Bermuda-based (Re)insurance Start-Up
The Andover Companies, one of the largest and longest-standing mutual insurance groups in the Northeast, is excited to announce a strategic investment in Mereo Insurance, a Bermuda-based (re)insurance start-up positioned to transform the market with innovative capital strategies and a distinguished leadership team.
The Andover Companies closed its investment in Mereo Holdings Limited, parent company of Mereo Insurance Limited, on January 31, 2025. Mereo Holdings and Mereo Insurance are chaired by former AIG Executive Chairman and CEO, Brian Duperreault. Mereo Insurance has received a financial strength rating of A- from AM Best, affirming its financial stability and ability to meet its obligations, and is actively writing business for February reinsurance renewals. The company will focus its diversified portfolio across approximately 25 lines of business, including property, casualty, and specialty insurance and reinsurance. Mereo’s team, led by CEO David Croom-Johnson (recently retired CEO of AEGIS London), President Neil Strong (most recently CEO of IQUW ILS Ltd.), CIO Lawrence Minicone (most recently Head of Research at Tekmerion Capital Partners and formerly of Bridgewater Associates), and Deputy CUO Richard Holden (most recently CUO of Fidelis Bermuda and Global CEO of Reinsurance and Capital Management), brings extensive expertise to the (re)insurance space.
Brian Duperreault expressed his enthusiasm for the partnership, stating, “We are pleased to have partnered with The Andover Companies, a first-class organization and management team.”
“The Andover Companies is excited to support Mereo Insurance in launching its (re)insurance platform,” said Chuck DiGrande, President and CEO of The Andover Companies. “Mereo’s seasoned leadership and innovative strategy align with our vision of diversifying into new classes of business and geographic markets. We believe this partnership will drive long-term value and further strengthen our portfolio.”
About The Andover Companies
The Andover Companies is one of the largest and longest-standing property and casualty mutual insurance groups in the Northeast, writing business across Massachusetts, Maine, New Hampshire, Rhode Island, Connecticut, New York, New Jersey, and Illinois. Our three distinct insurance companies, Merrimack Mutual, Cambridge Mutual, and Bay State, enable us to provide a wide range of coverage solutions and services that shield personal and commercial properties and their owners from risk. As our company approaches its 200th year in business, we are just as committed as our founders were to protecting our policyholders and continuing to build the most reliable network of local and independent insurance agents in the region. Consistently rated “A” or higher by AM Best for over a century, we display an unwavering ambition to safeguard our neighbors and communities.
About Mereo Insurance
Mereo is an innovative (re)insurance platform focused on transforming the global property, casualty, and specialty markets. Mereo delivers cutting-edge solutions to meet the evolving needs of the (re)insurance industry. Mereo is led by a team of seasoned executives with decades of combined experience in reinsurance, investment management, and capital markets. Mereo Insurance Limited is licensed by the Bermuda Monetary Authority and has received a financial strength rating of A- from AM Best.
