Sharmini Samuels has been appointed chief underwriting officer of the Bermuda-based collateralised reinsurance company Fergus Re.

The company specialises in the reinsurance of primary-layer casualty risk and is known for its capital-efficient structures that provide institutional investors with direct exposure to insurance risk.

The hiring of Ms Samuels, the company said, represents continued investment in Fergus Re’s capabilities after the appointment of CEO Stewart Ritchie in October.

Ms Samuels has 20 years of casualty underwriting experience and served as the deputy chief underwriting officer at Convex Re until March 2025.

She joined Convex from Hiscox Re in 2019 and was instrumental in the launch and management of Convex’s casualty treaty portfolio covering multiple lines of business.

As CUO, Ms Samuels will work closely with head of business strategy Ash Noronha to diversify the company’s reinsurance portfolio beyond the existing lines of business and distribution channels.

Mr Ritchie commented: “We are delighted to have someone of Sharmini’s calibre join the team. Her extensive experience across multiple lines of business and ability to build relationships beyond our existing markets will be hugely valuable to Fergus Re’s profitable growth strategy.

“Her experience in building systems and processes will be invaluable in harnessing Fergus Re’s investment in a best-in-class reinsurance management database as we continue to build a scalable reinsurance platform.”

Ms Samuels commented: “I’m delighted to be joining Fergus Re at such an important time in the company’s history. With a sizeable in-force book and an exciting vision for growth, I am looking forward to using my experience to refine the company’s strategy, open new distribution channels, and develop our in-force management capabilities.”