Demex, a technology-enabled reinsurance solutions provider focused on severe convective storm risk, has entered a market expansion phase and installed a new C-suite drawn from its existing leadership bench.
Michael Anderson (pictured above) has been appointed CEO after four years as chief growth officer, while Matthew Coleman moves from chief risk officer to president, reinsurance, and Charlie Eadie steps up from EVP, strategic partnerships and growth, to chief growth officer.
Former CEO Bill Clark, who oversaw Demex’s commercial launch, is stepping down from the top role but will remain involved as a member of the company’s advisory board. He will sit alongside reinsurance executives John DeMartini, Matthias Weber and Alastair Speare-Cole.
With primary carriers having purchased more than US$140 million in cover through six of the world’s largest reinsurance brokers, Demex said it is positioned for further scale, supported by “hundreds of millions” of dollars in capacity available for the 2026 renewal season.
The firm’s severe convective storm reinsurance product has also started to pay out for aggregate losses across several US states, functioning as a working-layer solution for cedents.
The company’s focus on severe convective storm risk aligns with findings from a Demex survey of APCIA members and NAMIC attendees, which showed insurers now rank SCS as the top peril by potential impact on annual earnings after reinsurance recoveries, ahead of fire, hurricanes and tropical storms, wildfire and flood.
Demex’s leaders have framed their product strategy as a direct response to this shift in perceived earnings risk, positioning SCS as a core balance-sheet issue rather than a secondary weather exposure.
“Having been at Demex since we first started developing our working-layer aggregate loss solution for severe convective storms, I am excited by the direction Demex is heading,” Anderson said, noting that discussions with primary carriers at NAMIC and APCIA “have reinforced how strong the need for our breakthrough solution is.”
Blue Bear Capital, a lead investor in Demex, backed the decision to promote from within after reviewing external candidates. “We conducted an extensive search to find the best candidate to continue Demex’s successful journey,” said Blue Bear Capital partner Hank Hattemer, adding that it ultimately became clear that “the skills and expertise we already had in the business were best placed to keep driving the company forward.”
Coleman said growing engagement from both cedents and reinsurers is an indicator of market adoption of Demex’s structure and modeling.
“The increasing traction we are seeing, from both cedents and reinsurers, for our reinsurance solution, bodes well and speaks to the strength of the modelling and product structure we have put together,” Coleman said.
According to Demex, its shift from product development to broader commercialization is supported by distribution through the world’s largest reinsurance brokers, which are now marketing the solution to their clients.
The company also cited “hundreds of millions of dollars in capacity” committed for upcoming renewals and said leading rating agencies have indicated they may give credit to cedents that use the structure.
Demex is also exploring opportunities beyond the US as international insurers assess coverage options for severe convective storm risk. The firm said it has begun fielding inbound interest from non-US markets as carriers and reinsurers reassess protection for mid-frequency, earnings-volatile perils.
