Acquisition of ESL's Energy Portfolio

On June 1, 2026, Mereo Insurance Limited will officially expand its presence in the excess casualty insurance market. The company announced the acquisition of renewal rights to Everen Specialty Ltd.’s Excess Casualty Energy portfolio. David Croom-Johnson, President and CEO of Mereo Insurance Limited, stated, “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.”

Under the transaction, Mereo will become the insurance carrier for both new and renewed business. Former ESL Chief Underwriting Officer Carla Greaves will lead ESL’s underwriting team as they transition to Mereo. The agreement ensures continuity of coverage for ESL insureds, providing them access to AM Best ‘A-‘ rated paper and Mereo’s strong capital base. Meanwhile, ESL will continue servicing claims with their characteristic promptness and fairness.

Robert Foskey, President and CEO of the Everen Group, commented, “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.”

The acquisition supports Mereo’s vision to become a leading global insurance and reinsurance platform. By bridging traditional insurance with capital markets, Mereo aims to provide innovative solutions. Everen Specialty Ltd., with a 40-year track record in the Bermuda market, brings a solid portfolio and experienced team to this partnership.

As a Bermuda-based company, Mereo is committed to maintaining excess liability capacity on the island. This acquisition reflects their investment in the long-term strength of the market. Mereo and ESL are working closely to ensure that renewed policies transition smoothly by June 1, 2026. Existing broker and client relationships are supported through a coordinated handover plan.