Northern Re has introduced a new suite of structured solutions and enhanced whole account quota share products, targeting insurers seeking capital relief, earnings stability, and multi-year continuity amid ongoing market volatility.
The company’s approach marks a shift from standardized reinsurance offerings. Each transaction is tailored to the cedent’s specific balance sheet needs, such as GAAP earnings acceleration, statutory capital optimization, or smoothing volatility across business cycles.
“Traditional reinsurance often forces cedents to choose between capital relief and operational complexity,” said Anthony McKelvy (pictured above, left), co-founder of Northern Re. “Our structured solutions are built from the ground up to deliver both precise capital optimization wrapped in operational simplicity.”
Headquartered in New York City and the Cayman Islands, Northern Re is a collateralized reinsurer that has surpassed US$600 million in gross written premiums since its 2022 launch. It was founded by Anthony and Peter McKelvy (pictured above, right).
The firm said that it is responding to increased demand from insurers – both national and multinational – seeking alternatives to conventional quota share arrangements for risk management and capital efficiency.
In recent years, Northern Re has strengthened its financial position by raising its committed capital to US$75 million by the end of 2023. The company then secured an additional US$100 million from institutional investors in early 2025, bringing its total capitalization to US$175 million.
The new product suite enables Northern Re to pursue more complex transactions while maintaining standards required by institutional investors. The company said that it plans to expand its capital base in 2026 to support larger deals and continued growth in gross written premium.
Vincent Pomo, chief underwriting officer, noted that the company’s placements focus on “speed, certainty, and alignment.” He added that clients benefit from unified pricing, streamlined administration, and pre-funded, cash-collateralized protection.
Recent transactions include a US$1.5 billion structured quota share that provided significant capital relief with a fixed single-digit ceded margin over several years.
Other engagements have involved legacy solution engineering to blend coverage across historical and prospective reinsurance, and hybrid approaches that combine balance sheet reinsurance with full collateralization.
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