Mereo Insurance, the start-up launched by industry veteran Brian Duperreault, has joined the Association of Bermuda Insurers and Reinsurers.

Launched in February 2025, Mereo is a Bermuda-based reinsurance platform led by industry Mr Duperreault, as executive chairman, and David Croom-Johnson, the 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 authorised 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.

In a statement, Abir said Mereo has outlined ambitious plans for growth across global reinsurance markets while leveraging Bermuda's deep talent pool, regulatory framework, and capital ecosystem.

Mark Cloutier, chairman 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.”

He added that with an experienced leadership team, Mereo had quickly established itself as an important new participant in the global risk transfer marketplace.

Mr Croom-Johnson 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.”

According to Abir's latest Global Underwriting Report, member companies recorded a 10 per cent year-over-year increase in gross written premium in 2024, reaching more than $188 billion, while total equity increased by 8.5 per cent to $178 billion.

Founded in 1993, ABIR represents Bermuda's leading commercial insurers and reinsurers.