Inver Re announces departure of CEO, Steve Hearn

Inver Re today announces that Steve Hearn, CEO will leave the business this summer.

Steve joined the business in 2021, following the acquisition of BGC’s insurance assets by Inver Re’s parent company, the Ardonagh Group.

As Inver Re’s CEO, Steve led the business through its establishment and a period of sustained growth, diversification, bringing together talented reinsurance teams from across Ardonagh and the broader market.

Inver Re is today the largest independent reinsurance broker in Bermuda, with specialist teams across Bermuda, London and the United States spanning treaty and facultative reinsurance, capital solutions and strategic advice.

Andrew Wallin will lead Inver Re as interim CEO during the ongoing process to appoint a permanent successor.

Ardonagh Group’s Chief Executive Officer David Ross commented: “Steve has achieved everything he set out to do when he joined us two years ago and more. His legacy is a thriving business known for collaboration and innovative solutions for clients – a much needed specialist in a consolidated market. He leaves with our gratitude for a job superbly well done.”

Steve Hearn commented: “I’m incredibly proud of the client-centric proposition that Inver Re has become famous for, the talent that has been assembled and the considerable early wins. It has been a privilege to lead this business and its executive team. I wish David Ross, Andy Wallin, my many friends and colleagues continued success as they build a fabulous business.”

Notes to editors

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About Inver Re

Founded in 2021 as part of The Ardonagh Group, Inver Reinsurance Brokers Limited aims to bring a fresh perspective to reinsurance and establish a credible alternative in a market where choice and flexibility are increasingly limited. Our energy and purpose are born out of a unique combination of the scale and resources of the UK’s largest independent insurance broking group and the flair and expertise of our team.

The Ardonagh Group

The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. We are collection of best-in-class entrepreneurial and specialist brands with a network of more than 100 locations and a combined workforce of more than 10,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs. For more information, visit our website: www.ardonagh.com.