HAMILTON, Bermuda--(BUSINESS WIRE)--Effective June 1st 2026, Mereo Insurance Ltd has commenced underwriting the first Excess Casualty Energy policies under a renewal rights transaction undertaken between Everen and Cedar Trace, the insurance, reinsurance, and asset management group that is strategically aligned with Mereo.<\/p>
\nUnder the transaction, ESL\u2019s underwriting team and underwriting systems supporting the portfolio will also transition to Cedar Trace, providing continuity of coverage and systems as well as a team well known to the existing policyholders. The unit will be Headed by Carla Greaves, the former ESL Chief Underwriting Officer.<\/p>
\nThe transaction\u2019s origination, structuring, and negotiation was led by Julia Mansfield, Head of Casualty. \u201cWe are delighted to welcome Carla and her team and to offer capacity to the existing Everen policyholders with AM Best 'A- rated' security. We look forward to working in partnership with Everen to ensure a smooth and seamless transition of this portfolio to the Mereo balance sheet,\u201d noted Mansfield.<\/p>
\n\u201cI am really pleased to be able to bring myself and my team across to give continuity of coverage to the existing policyholders and their brokers,\u201d said Carla Greaves. \u201cWe are also pleased to also announce a TPA arrangement with ESL to provide continuity of claims handling services.\u201d<\/p>
\n\u201cThe transaction supports our vision to become a leading global insurance and reinsurance business, and reflects our commitment to develop high-quality primary insurance business,\u201d noted David Croom Johnson, a partner at Cedar Trace and Mereo\u2019s Chief Executive Officer.<\/p>
\nAbout Mereo Insurance Limited:<\/b><\/p>
\nMereo Insurance is a Bermuda-based insurance and reinsurance company offering a diversified range of solutions for clients and brokers. For further information about Mereo Insurance visit www.mereoinsurance.com<\/span><\/a><\/p> \nAbout Cedar Trace Group:<\/b><\/p> \nCedar Trace is a Bermuda-based insurance, reinsurance and asset management group offering scalable solutions across multiple platforms. For further information about the Cedar Trace Group visit www.cedartrace.com<\/span><\/a><\/p> \nAbout Everen Group:<\/b><\/p> \nThe Everen Group \u2013 a group of leading energy insurance companies based in Bermuda \u2013 includes two independent operating companies providing complementary products: Everen and Everen Specialty. For further information about the Everen Group visit www.everengroup.bm<\/span><\/a><\/p>