Somerset Reinsurance Appoints Danish Iqbal
Somerset Reinsurance Ltd. announced the appointment of Danish Iqbal as the company’s new Chief Executive Officer, effective April 30.
A spokesperson said, “Mr. Iqbal succeeds Jeff Burt who, as announced yesterday, will become co-CEO of Aquarian Insurance Holdings, the holding company for Somerset Re. The two will share Co-CEO responsibilities throughout the transition, ensuring seamless and consistent leadership.
“Mr. Iqbal is returning to Somerset Re after serving as Head of Pricing and Valuation earlier in his career. Immediately prior to rejoining Somerset Re as CEO, Mr. Iqbal served as President of Neptune Reinsurance Limited [Neptune], a Bermuda-domiciled reinsurer integrated into Somerset Re in December 2024.
“As President, he oversaw the establishment of the organization’s infrastructure and ensured the entity’s licensing with the Bermuda Monetary Authority. Previously, Mr. Iqbal was Chief Actuary at Aspida Re [formerly F&G Re]. He was responsible for all actuarial functions and led F&G Re’s sale process to Ares Management Corporation.
“Mr. Iqbal is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and CFA charter holder. He earned his BMATH in Honors Statistics from the University of Waterloo.”
“It’s an honor to be selected as CEO for Somerset Re,” Mr. Iqbal said. “My focus will be to continue building Somerset Re into the go-to global reinsurance partner for the life and annuity market by delivering creative, capital efficient solutions to our clients.”
The spokesperson said, “This transition comes on the heels of the formation of Aquarian Insurance Holdings [AIH], Somerset Re’s new parent company. Jeff Burt, Somerset’s outgoing CEO, has been appointed as AIH’s co-CEO and remains connected to the Somerset Re team and mission.”
“I can’t imagine a better person to take over this role. I’ve worked with Danish for many years and know the company is in great hands,” Mr. Burt commented.
