Mereo bolsters book with Everen Specialty excess casualty energy portfolio
Mereo Insurance has boosted its market expansion by acquiring the renewal rights to Everen Specialty’s (ESL) xcess casualty energy portfolio for both new and renewed policies. along with its underwriting team.
Starting June 1, 2026, Mereo will assume the 40-year-old book of business directly onto Mereo’s platform just in time for the important renewal season.
Beyond the portfolio itself, Mereo is absorbing ESL’s complete underwriting team, led by former ESL Chief Underwriting Officer Carla Greaves, alongside its proprietary underwriting systems and broker relationships.
Launched in early 2025 with over $700 million in capital backed by private equity and led by industry veteran David Croom-Johnson, Mereo holds an A- financial strength rating from AM Best.
Under the terms of the transaction, Everen Specialty will retain its historical liabilities, insulating Mereo from legacy exposure while allowing the newer reinsurer to instantly scale its footprint in the complex global energy sector.
Croom-Johnson said: “This transaction is a strong strategic fit for Mereo and underscores our commitment to providing durable capacity and consistent, high-quality service to the energy market.
“We are pleased to welcome the experienced ESL underwriting team and to work in close partnership with the Everen Group to deliver a smooth transition for brokers and clients.”
Robert Foskey, president and CEO of the Everen Group, added: “This is an important milestone, and we are pleased that Mereo will carry the ESL Excess Casualty Energy portfolio forward. Our priorities throughout have been clear: continuity for the insureds who rely on large casualty limits, a soft landing for the ESL underwriting team, and a partner who will hold to the standards of service our insureds expect.
“As a Bermuda-based company invested in the long-term strength of this market, we are equally pleased that the transaction keeps meaningful excess liability capacity on-island.”
Did you get value from this story? Sign up to our free newsletters and get stories like this sent straight to your inbox.
