Somers Re Ltd.

Somers Re Ltd. is a Bermuda-based company that provides property and casualty reinsurance worldwide. The firm specializes in specialty lines, including casualty, property, and mortgage reinsurance. 

History of Somers Re Ltd. 

Somers Reinsurance began as Watford Re in 2014. It reinsured global complex property‑casualty and mortgage risk. It is privately owned by Arch Capital Group Ltd., Kelso & Company, and Warburg Pincus. Other milestones include: 

• 2021: renamed as Somers Re from Watford Re 
• 2021: leadership update with Liz Cunningham as CEO, Sioned Butler as CFO 
  • AM Best affirmed A‑ stable rating 
  • acquired French insurer Axeria IARD 
• 2024: Somers Re upheld strong capital in AM Best review despite investment losses 

The latest milestone involves its Lloyd’s launch via Lime Syndicate Management. The firm started underwriting on Syndicate 3705 in 2025. 

Reinsurance products and services 

Somers Re Ltd. offers a broad mix of reinsurance products across global markets, helping clients manage risk and capacity: 

• customized products reinsurance: tailored reinsurance solutions designed to meet client-specific structures and needs
• mortgage reinsurance: covers credit risk on mortgage portfolios for lenders and housing-related institutions 
• property reinsurance – US: supports US-based insurers covering catastrophe and non-catastrophe property exposures 
• direct and facultative: offers reinsurance directly to insurers or specific risks not covered in treaties 
• personal accident and life reinsurance: backs coverage for accident-related and life risks for life carriers 
• specialty reinsurance: includes niche or non-standard risk types requiring custom structures 
• international casualty reinsurance: provides liability coverage for global casualty risks outside the US 
• US casualty reinsurance: protects US insurers from losses related to liability and injury claims 
• property reinsurance – international: reinsures global property risks outside the US, including catastrophe cover 
• marine and offshore energy: reinsures risks related to shipping, cargo, and energy platforms at sea 

Somers Re Ltd. balances its offerings through strict underwriting and a broad mix of products. The company adjusts risk appetite based on market needs and available capacity. 

Culture and core values 

Somers Re Ltd. values smart, independent thinkers with strong analytics, entrepreneurial drive, and can-do attitudes. It shares its core values with its parent company, Arch Group: 

• innovation: encourages fresh ideas and rewards creative ways to solve complex problems
• integrity: expects honest decisions and strong character in every part of the business 
• teamwork: supports collaboration and celebrates shared success across roles and levels 
• making a difference: values people who take action and help improve results and service 

The company values challenging work that drives results and rewards people for real contributions. Its team-focused culture supports fresh thinking and doing things better together. 

Workplace environment and benefits 

Senior leaders at Somers Re Ltd. value open communication and support access to key knowledge daily. The workplace encourages growth and hands-on learning through strong internal programs and flexible leadership support: 

• on-the-job learning: everyday support builds practical skills 
• coordinated classroom training: in-person programs to build technical depth 
• webinar and self-study: flexible online learning formats for global teams 
• mentoring and networking: builds support and connection across the company 
• internship program: offered in select fields and regions 
• global benefits: tailored by country and business focus 

The firm stays open to better ways of doing business. New ideas are welcomed, tested, and shared. 

Community approach 

Somers Re Ltd., as part of Arch, supports causes that matter to employees and communities. Staff get two volunteer days as time off each year to contribute. Arch also matches employee donations dollar for dollar through its Matching Grants Program.  

More initiatives include: 

• foundation grants: over $1.7 million given to more than 40 groups in 2024 
• enhanced gift matching: 2:1 match in November, with over $1.3 million donated 
• corporate giving: $4 million allocated to education, health, housing, and environment 
• global impact: supported over 1,600 organizations across 13 countries 
• philanthropy focus: driven by key areas that align with company goals 

Somers Re encourages hands-on giving and team engagement through meaningful community involvement. 

The future at Somers Re Ltd. 

AM Best recently raised Somers Re Ltd.’s outlook to positive and affirmed its A‑ rating. The shift follows better underwriting and a move to safer, investment-grade assets. Somers continues to grow with global reach and steady financial strength. 

Somers Syndicates 3705 and 5423 joined Rokstone’s panel for facultative property and energy reinsurance. The deal expands capacity for customized coverage across power, energy, and international property risks. Somers aims to strengthen its global reach through smart partnerships and flexible reinsurance solutions.