IQUW Re Bermuda to accelerate growth with Mortgage, Credit, and Cyber Risk products launch 

IQUW Re Bermuda, today announced plans to continue to expand its predominantly Property Cat Reinsurance product suite with the additions of Mortgage, Credit, and Cyber Reinsurance to its portfolio. This development marks the next stage in IQUW’s progress in Bermuda, underscoring the platform’s profitable growth and developing a reputation as one of the island’s recent success stories. 

This continued product expansion comes at a time of significant development for IQUW. The Group has access to over $1 billion of capital and IQUW Re Bermuda has net assets of over $750m. Earlier this year, AM Best confirmed the company’s financial strength with an A- (Excellent) rating.   

With the IQUW Re Bermuda balance sheet, capital foundation and AM Best rating in place, the business is now ideally positioned to add new additional diversifying lines of Mortgage, Credit, and Cyber Reinsurance. The Cyber insurance sector is experiencing sustained growth and significant underinsurance in parts of the SME sector. Meanwhile, rising credit pressures in consumer and commercial portfolios highlight the need for strategic reinsurance solutions. In the Mortgage market with an expectation of lower US interest rates in the future, we anticipate increased mortgage refinancing and origination volumes to drive more capital need across this sector.  Now is an opportune moment to bring disciplined mortgage risk capacity to market.

Stephen Young, CEO of IQUW Bermuda, commented: “We are incredibly proud of the strong team we’ve built in Bermuda. Backed by our A- AM Best rating and a robust capital base, launching Mortgage, Credit, and Cyber Reinsurance products is the natural step forward. We’re well positioned to serve reinsurance markets with data-led underwriting and to adapt to evolving risk appetites.” 

The launch builds on IQUW’s strong track record. In 2024, the firm’s combined operations across the Bermuda platform and Lloyd’s Syndicates 1856 and 218 had achieved $1.6 billion in GWP with a combined ratio of 83.1% as a result of disciplined underwriting and profitable expansion. 

Young added: “IQUW Re Bermuda is supported by strong capital, an experienced team and a proven ability to deliver results. The platform is evolving into a strategic growth engine for the IQUW Group. With new product momentum and a focus on data-driven underwriting, IQUW Re Bermuda is set to play an increasingly influential role in the global reinsurance market”.