Mereo Advisors Group, a re/insurance and asset management firm based in Bermuda, has announced a rebrand and will now operate under the name Cedar Trace.
The company also clarified that its business operations and management team will remain unchanged following the transition.
According to the company, Cedar Trace will continue its alignment with Mereo Insurance Limited, a Bermuda-based reinsurer with an A- financial strength rating from AM Best. The rebrand does not affect this relationship or alter the firm’s current operations.
Lawrence Minicone (pictured above), chief executive officer of Cedar Trace, said the changes to the name and logo are intended to make a clearer separation between its business lines.
“The name and logo changes are to draw a clearer distinction between the regulated balance sheet and all the other business lines we currently operate or plan to operate,” he said.
The rebranding effort includes name changes for all entities within the group. Mereo Advisors Holdings Limited is now Cedar Trace Advisers Holdings Limited. Mereo Advisors Limited will operate as Cedar Trace Advisers Limited. Mereo Capital Limited has become Cedar Trace Capital Management Limited. Mereo ILS Opportunities Limited is now Cedar Trace ILS Opportunities Limited.
Cedar Trace’s underwriting portfolio, which the company launched during the February reinsurance renewals, currently comprises about 25 lines of property, casualty, and specialty re/insurance.
Earlier this year, Andover Companies made a strategic investment in Cedar Trace, with the intent to support expansion into additional business lines and new markets. The investment signals continued interest from established industry players in the Bermuda re/insurance sector.
The business landscape for companies like Cedar Trace is also evolving, as Bermuda’s Corporate Income Tax Act 2023 officially took effect this year. The legislation will introduce a 15% corporate income tax for multinational enterprises with annual revenue of €750 million or more.
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