Ariel Re, the Bermudian-born global reinsurer, has had a whirlwind week of exposure during the reinsurance industry’s Rendez-Vous de Septembre, as the company opened its second Lloyd’s syndicate and reflected on its 20 years of business.

The company’s chief executive, Ryan Mather, reflected on company origins for an article on the company website.

After two decades of focusing on the catastrophe market, he said that climate change is pushing perils such as wildfire and flood higher up the agenda: “We want to be at the forefront, but only if we’ve got control of the models and understand the peril.”

He added: “The world will develop opportunities for us. We weren’t in cyber four years ago. We weren’t in clean energy seven years ago. We’ll be in new things — we just don’t know what they are, yet. It’ll be driven by a market opportunity, a talent opportunity, or both.”

Ariel Re operates through Syndicate 1910 at Lloyd’s of London and also offers access to Lloyd’s Europe. It is the largest writer of property catastrophe reinsurance at Lloyd’s.

The new Syndicate 2006 will be a balanced portfolio of property catastrophe; other property; marine and speciality; cyber; and clean energy business, trading as Ariel Green.

The new $350 million Syndicate 2006 recognises the first year of business after Ariel Re was formed 20 years ago.

The company said that from next year, Syndicate 1910 will only underwrite peak property catastrophe reinsurance, aligning to its insurance-linked security peer group in Bermuda, but with advantages of being a rated Lloyd’s carrier.

Ariel Re plans to begin quoting on behalf of Syndicate 2006 on December 1, for binding effective January 1.

“We are excited to expand our presence in the Lloyd’s market with the launch of Syndicate 2006,” said Darren Lednor, Ariel Re’s managing agency managing director.

“Lloyd’s is fundamental to our strategy, and with this new syndicate we are seeking to better appeal to the demands of our target capital base by offering differentiated investment products.

“We are seeing strong interest from existing as well as potential new investors, and we expect Syndicate 2006 to be accretive to Ariel Re in 2026, and as the syndicate grows in 2027 and beyond.”

Ariel Re was created by insurance hall-of-famer, Don Kramer, after retiring from Ace Ltd (now Chubb). Mr Kramer was a security analyst-turned-investment banker, who became a management consultant and then a serial reinsurance company founder.

Ariel Re offers a range of innovative insurance and reinsurance solutions and services through offices in Bermuda, London and Hong Kong.