Collateralized reinsurer Fergus Re appoints Sharmini Samuels as CUO

Fergus Re, the Bermuda based collateralized reinsurer that writes business for investors that have an appetite for returns from quality casualty risk underwriting business, has announced the appointment of Sharmini Samuels as Chief Underwriting Officer, effective January 1, 2026.

Fergus Re particularly specialises in the reinsurance of primary-layer casualty risk. The company is also well known for its capital-efficient structures that provide institutional investors with direct exposure to insurance risk.

A reinsurance veteran, Samuels has over 20 years of casualty underwriting experience and, until March 2025, she served as the Deputy CUO of Convex Re.

Samuels joined Convex from Hiscox Re in 2019, where she played a crucial role in the establishment and oversight of Convex’s casualty treaty portfolio covering multiple lines of business.

In her new role at Fergus Re, Samuels will work closely with Ash Noronha, Head of Business Strategy, to diversify the company’s reinsurance portfolio beyond the existing lines of business and distribution channels.

Samuels’ appointment follows that of Stewart Ritchie, who joined the firm in October as Chief Executive Officer, representing the reinsurer’s commitment to grow and expand its capabilities.

Commenting on her appointment, Samuels said: “I’m delighted to be joining Fergus Re at such an important time in the company’s history. With a sizeable inforce book and an exciting vision for growth, I am looking forward to using my experience to refine the company’s strategy, open new distribution channels and develop our inforce management capabilities.”

Ritchie, also commented: “We are delighted to have someone of Sharmini’s calibre join the team. Her extensive experience across multiple lines of business and ability to build relationships beyond our existing markets will be hugely valuable to Fergus Re’s profitable growth strategy.”

Adding: “Her experience in building systems and processes will be invaluable in harnessing Fergus Re’s investment in a best-in-class reinsurance management database as we continue to build a scalable reinsurance platform.”