Cedar Trace ILS bolsters its leadership. Fergus Reynolds to become CEO, adds new hire

Cedar Trace ILS, the Bermuda-based specialist insurance-linked securities arm of Cedar Trace Capital Management Group and closely linked to Mereo Insurance, has announced a range of leadership promotions and a strategic hire, which includes Fergus Reynolds being promoted to CEO.

The moves come as Cedar Trace ILS looks to strengthen its investment management and operational capabilities in the insurance-linked securities market and the company said they underscore its commitment to building a specialist investment platform focused on underwriting discipline, portfolio diversification and risk-adjusted returns

First, Cedar Trace ILS has named Fergus Reynolds to be appointed as its Chief Executive Officer, subject to regulatory, immigration and board approval.

Reynolds joined Cedar Trace ILS in 2025, taking on the role of Head of ILS. With extensive experience across the insurance and reinsurance markets, Reynolds will now be tasked as CEO with leading Cedar Trace ILS through its next phase of development.

Reynolds was previously Head of Third-Party Capital at global (re)insurer IQUW, prior to which in his career he was Chief Underwriting Officer for retrocession at Bernina Re (a Credit Suisse-affiliated reinsurer), spent over five years at Securis Investment Partners where he was Head of Non-Life Origination, and held underwriting roles at Antares and Brit.

In addition, William Luu is being promoted to Chief Operating Officer of Cedar Trace Capital Management Limited, subject to regulatory and board approval. Luu will oversee operations and support Cedar Trace ILS’ investment management capabilities as it continues to develop and grow.

Luu joined around the same time as Reynolds in 2025, as Managing Director, Cedar Trace ILS. Before that he was Vice President at Aon Insurance Managers, leading its business development, and working across collateralised reinsurance offerings including catastrophe bonds, special purpose insurers and collateralized (re)insurance vehicles.

A further promotion sees James Spence being appointed as Portfolio Manager, previously having been a Senior Analyst and also joining around the launch in 2025. Spence will have responsibility for portfolio construction, investment strategy and risk management across the portfolios of Cedar Trace’s ILS strategies.

On top of these moves, Cedar Trace ILS has also announced the hiring of Segundo Parra Jurado as Senior ILS Analyst, who joins the firm from Hiscox Re. He has valuable reinsurance industry and ILS experience and will support the firm’s investment analysis, underwriting assessment and ILS portfolio construction activities.

Neil Strong, Chairman of Cedar Trace ILS, commented on the news, “We are delighted to promote Fergus, William, and James to their new roles. We also welcome Segundo to Cedar Trace ILS in the near future. These appointments significantly strengthen our leadership and investment capabilities and represent an important milestone in the continued development of the business.

“Our objective is to build a differentiated ILS investment platform, combining deep reinsurance expertise with disciplined portfolio construction and rigorous risk management. The addition of this highly experienced team further enhances our ability to identify attractive opportunities and deliver long-term value for our investors.”

“Fergus, James, and William embody our company values every day. Their promotions are a testament to their hard work, sharp vision, and commitment to our team’s success,” Lawrence Minicone, CEO of Cedar Trace Capital Management added.

Cedar Trace ILS offers three strategies, Cedar Trace ILS Opportunities Limited, Cedar Trace ILS Diversified Limited and Cedar Trace ILS Funds SAC Limited, all of which are based in Bermuda.

These provide a range of risk-return profiles and access points to opportunities across the insurance-linked securities market.

Also in recent days, Cedar Trace announced the planned launch of its first Lloyd’s syndicate, on which it said, investors backing insurance-linked securities funds under the management of Cedar Trace Capital Management are expected to provide some of the funding.