Bermuda-based mortgage reinsurer Fergus Re has appointed Sharmini Samuels as its new chief underwriting officer (CUO), effective January 1, 2026.
The appointment follows the appointment of Stewart Ritchie as CEO in October 2025 and represents the reinsurer’s commitment to continued investment in its capabilities.
In her new role, Samuels will work closely with Ash Noronha, head of business strategy, to diversify the company’s reinsurance portfolio beyond existing business lines and distribution channels.
Samuels, who has more than two decades of casualty underwriting experience, served as deputy CUO of Convex Re until March 2025.
She joined Convex in 2019 from Hiscox Re, where she played a key role in the launch and management of Convex’s casualty treaty portfolio across multiple business areas.
Ritchie commented on the appointment: “We are delighted to have someone of Sharmini’s caliber joining our team. Her extensive experience across multiple business areas and ability to build relationships outside of our existing markets will be extremely valuable to Fergus Re’s profitable growth strategy.
“Her experience in building systems and processes will be invaluable in leveraging Fergus Re’s investment in a best-in-class reinsurance management database as we continue to build a scalable reinsurance platform.”
Samuels added: “I am delighted to join Fergus Re at such an important time in the company’s history. With a large inforce book and an exciting vision for growth, I look forward to leveraging my experience to refine the company’s strategy, open new distribution channels and develop our inforce management capabilities.”
Fergus Re specializes in the reinsurance of primary casualty risks and is known for its capital-efficient structure, which provides institutional investors with the opportunity to directly assume insurance risk.