IQUW Re Bermuda has announced the launch of mortgage, credit and cyber reinsurance lines, signalling the next stage of growth for the Bermudian-based reinsurer.

The move expands the company’s predominantly property catastrophe portfolio and comes as IQUW builds its reputation as one of the island’s emerging success stories.

The firm has net assets of more than $750 million, with access to over $1 billion of group capital. Earlier this year, ratings agency AM Best affirmed its financial strength at A- (Excellent).

Stephen Young, chief executive of IQUW Bermuda, said the new lines reflect both opportunity and demand.

“We are incredibly proud of the strong team we’ve built in Bermuda,” Mr Young said. “Backed by our A- AM Best rating and a robust capital base, launching mortgage, credit and cyber reinsurance products is the natural step forward.

“We’re well positioned to serve reinsurance markets with data-led underwriting and to adapt to evolving risk appetites.”

The firm said demand is rising for coverage in several areas: underinsurance in the small business cyber sector, credit pressures in consumer and commercial portfolios, and an anticipated increase in mortgage refinancing and origination if American interest rates decline.

IQUW has already established a strong track record. In 2024, combined operations across its Bermuda platform and Lloyd’s syndicates 1856 and 218 generated $1.6 billion in gross written premium and a combined ratio of 83.1 per cent.

Mr Young said the new lines would help make the Bermuda platform a “strategic growth engine” for the wider group.