The new reinsurance firm is using Northern Trust Asset Servicing to provide custody and institutional brokerage solutions.
A new reinsurance firm, Mereo Insurance Ltd., has tapped Northern Trust Asset Servicing to provide custody services and institutional brokerage solutions, which means that it will act as a broker for Mereo’s trade execution needs, officials say.
In addition, the Northern Trust Asset Management (NTAM) unit will manage “a portion of Mereo’s fixed income portfolio and provide cash sweep services,” officials say.
“Mereo Insurance launched in the first quarter of 2025 and underwrites a broad range of casualty, specialty, and property classes of business. Mereo seeks to participate on both a proportional and non-proportional basis through its office in Hamilton, Bermuda,” according to the announcement. Mereo Insurance Ltd. is licensed by the Bermuda Monetary Authority.
“When preparing for our launch, we sought a partner that could support our long-term vision, beyond our immediate requirements. With Northern Trust’s significant investment in the insurance sector and its innovative approach, we believe we’ve found a provider that understands our business and can support us as we grow,” says Lawrence Minicone, chief investment officer of Mereo Insurance Ltd.
NTAM is “offering an integrated platform that combines investment insight, liquidity management, operational infrastructure, and data strategy — all tailored for their needs,” says Lyenda Delp, EVP and head of global institutional client group at NTAM, in a prepared statement.
Northern Trust Corp. offers wealth management, asset servicing, asset management, and banking to corporations, institutions, affluent families, and individuals. Based in Chicago, Northern Trust has offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East, and the Asia-Pacific region.
As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion, officials say.
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