The Fidelis Partnership welcomes new ceded reinsurance head
The Fidelis Partnership welcomes new ceded reinsurance head | Insurance Business Canada
Reinsurance
The Fidelis Partnership welcomes new ceded reinsurance head
He brings more than 14 years of experience
Reinsurance
By
Jonalyn Cueto
The Fidelis Partnership announced this week the appointment of Douglas Somerville as its new head of capacity and ceded reinsurance.
Somerville has been described as a seasoned professional with 14 years in the reinsurance industry. He transitions to the Bermudian-based company from his recent role at Howden Re. There, he held the position of head of casualty facultative, focusing on tailored reinsurance solutions for complex risks.
Before his tenure at Howden Re, Somerville spent more than seven years at Guy Carpenter, where he served as vice president for international casualty and specialty. His experience and leadership in various senior roles enhanced his qualifications for his new responsibilities at The Fidelis Partnership, it was stated.
The Fidelis Partnership, formerly known as Fidelis MGU, has been undergoing strategic enhancements to bolster its operations and extend its global reach in the reinsurance sector, including the launch of a new syndicate and the announcement of its rebranding. Somerville’s appointment was described as an asset and instrumental in the initiatives of the company.
Fidelis Partnership is a privately owned managing general underwriter based in Bermuda. It has subsidiaries that specialize in property, bespoke and specialty insurance and reinsurance products. It also sponsors and incubates specialist MGAs through its Pine Walk platform. It is separately owned and managed from the ownership and management of Fidelis Insurance Group.
Fidelis Insurance Group, meanwhile, is a global specialty insurer that leverages strategic partnerships as it aims to offer innovative and tailored insurance solutions to clients. Its portfolio is focused on specialty, bespoke, and reinsurance. It has offices in Ireland and the UK aside from its headquarters in Bermuda. Its operating companies have a financial strength rating of A from AM Best, A- from S&P and A3 from Moody’s.
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