As a succession of storms, earthquakes, fires and other natural or man-made disasters lash the planet, it seems an inauspicious time to be launching a new reinsurance venture.

However, insurance industry veteran Brian Duperreault appears undaunted.

The former CEO of AIG, Marsh McLennan and ACE is spearheading a new reinsurance start-up, Mereo Advisors, which plans to draw inspiration from the structure of hedge funds to build a highly diversified portfolio as a way to spread risk and outperform the market.

Aiming to launch in the first half of 2024, Mereo has been accumulating a portfolio that spans underwriting in up to 30 different classes of business, including auto, professional liability, commercial property, surety and crop insurance.

In a recent interview with Insurance Insider, Duperreault said that underwriting was “paramount” to Mereo’s approach.

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