Northern Re Surpasses $1 Billion in In-Force Premium as Global Expansion Accelerates

NEW YORK and GEORGE TOWN, Cayman Islands – 1 September 2026 – Northern Re, (the “Company”) a privately held reinsurance company focused on high‑frequency, low‑severity property and casualty portfolios, has grown in-force premium beyond the $1 billion mark as it closes out its fourth underwriting year after launching on 1 January 2023.

Since commencing underwriting in January 2023, Northern Re has participated on more than 100 bespoke reinsurance contracts across treaty, legacy, and whole-account solutions. What began as a business focused primarily on the MGA and program market now spans traditional insurance company and retrocession opportunities globally. Over the same period, committed capital has increased from $25 million to $325 million.

“Our ability to form deeper partnerships with cedents and execute complex transactions has driven additional demand for Northern capacity,” said Vincent Pomo, FCAS, Chief Underwriting Officer of Northern Re. “We have never grown for the sake of top line growth. We have scaled the business because the underwriting results have earned us that right, giving our investors, cedents, and capital partners confidence in what we are putting on our books.”

While MGA business remains a cornerstone part of the portfolio, Northern Re now supports (re)insurance companies across multiple product lines. Structured quota shares represent the majority of the Company's assumed premium, reflecting growing demand from cedents looking for capital relief, earnings stability, and longer-term partnerships.

Across the portfolio, Northern Re maintains an average line size of approximately $20 million, while selectively deploying more than $100 million on individual opportunities where conviction is highest.

Northern Re positions itself as a modern reinsurer supported by private capital, operating alongside both traditional reinsurance and Insurance-Linked Securities (ILS) markets.

“We’ve taken a hybrid approach to the business which allows us to be genuinely creative in how we solve problems,” said Anthony McKelvy, Co-Founder and Managing Partner of Northern Re. “We can offer cedents the speed and creativity they associate with the capital markets, paired with the longevity and comfort of a reinsurance company they know is focused solely on this asset class. That combination is increasingly what cedents are looking for, and it is difficult to replicate from either side of the market alone.”

Looking into year-end 2026 and into 2027, Northern Re expects continued growth across structured solutions, retrocession, and bespoke casualty transactions, supported by a growing investor base and increasing demand for alternative sources of capital.

About Northern Re

Founded by Anthony and Peter McKelvy, Northern Re is a specialty reinsurance group headquartered in New York with offices in the Cayman Islands, supporting cedents across NAIC and Solvency II regulatory regimes. The company focuses on casualty and other low-severity classes of business, providing structured reinsurance solutions and whole account quota share arrangements.

For more information about Northern Re's capabilities, visit www.northernre.com.