Duperreault’s Cedar Trace approved for $300m Lloyd’s syndicate
Launch marks the expansion of Bermuda-based Cedar Trace’s existing reinsurance and asset management platform into the Lloyd’s market
Syndicate will write a diversified reinsurance portfolio alongside a delegated direct insurance portfolio commencing in 2027
BERMUDA-based Cedar Trace has received in-principle approval from Lloyd’s to launch a $300m syndicate for the 2027 underwriting year.
The syndicate will write a diversified reinsurance portfolio alongside a delegated direct insurance portfolio.
The launch marks the expansion of Cedar Trace’s existing reinsurance and asset management platform into the Lloyd’s market.
The syndicate will be led by Cedar Trace chief underwriting officer Richard Holden and will be managed by Asta.
Cedar Trace is the management company established in 2024 and led by Brian Duperreault.
The business is closely affiliated with Mereo Insurance, the Bermuda-based reinsurance company led by Lloyd’s veteran David Croom-Johnson, who will serve as executive chairman of the new syndicate.
Capital supporting the new syndicate is expected to come predominantly from existing shareholders of Mereo Insurance, as well as investors supporting Cedar Trace Capital Management’s insurance-linked securities funds.
“We have built out our Bermuda platforms to over $1bn of GWP in 2026 and entry into Lloyd’s in 2027 is a natural next step in scaling our ambitions,” Duperreault said.
Holden added: “Lloyd’s is obviously a market that David [Croom-Johnson] and I know extremely well and the capital and licensing advantages that it brings allow us to expand our offerings to our existing reinsurance relationships and to bring new delegated coverholders to the market.”
