Somerset Reinsurance Ltd., a provider of asset-intensive reinsurance solutions to the life and annuity markets, has hired MetLife’s Steve Belcher as its new chief financial officer (CFO), while Joelina Redden has also joined the company as chief legal officer (CLO).
Belcher and Redden join its leadership team following a strong performance in 2025 for Somerset Re, which saw the company deliver its highest number of transactions to date and strong premium growth.
Belcher is responsible for the reinsurer’s financial and capital management, accounting, tax and financial reporting. He joins Somerset Re after 15 years at MetLife, most recently as Senior Vice President, Global Finance Director and Chief Reinsurance Officer. During his time with the company, he held a number of senior financial leadership positions and previously held a number of senior financial leadership roles at global insurance company AIG.
In her new role, Redden is responsible for providing overall legal oversight of company operations. Prior to joining Somerset Re, she served as general counsel, chief compliance officer and company secretary of Athora Life Re Ltd. and senior legal counsel and company secretary of Athora Holding Ltd. Earlier in his career, Redden worked for Allied World Assurance Company, Ltd. and, prior to that, as counsel at the law firm of Appleby (Bermuda) Limited.
Danish Iqbal, CEO of Somerset Re, commented: “This is an important moment for Somerset Re. The addition of Steve and Jorina underlines the growth of our business and our commitment to investing in the right leadership to support the next phase of growth. Both leaders bring deep expertise and leadership consistent with the increasingly complex, multi-jurisdictional nature of the transactions we execute today.”
After a strong 2025, Somerset Re says it is set for a strong year ahead.
“We are excited to continue this momentum into 2026. With our strong leadership team, we are well-positioned to deepen our support of existing customers and forge new partnerships in the global life insurance and annuity markets,” said Iqbal.
