Brian Duperreault, a prominent figure in the reinsurance industry, recently shared reflections from his extensive career at the 2025 Bermuda Risk Summit. Speaking as the final presenter, Duperreault, a Bermuda native, joined ABIR CEO John Huff to offer insights from his five decades in the re/insurance sector.
Duperreault, who has held leadership roles at AIG, Chubb (formerly ACE), Marsh, and Hamilton, and now serves as the executive chairman of Mereo Insurance Ltd and Mereo Advisors Ltd, expressed his enduring appreciation for the Bermuda insurance market. He emphasized his confidence in its ability to adapt to the shift towards an income tax environment.
Addressing Bermuda’s future reputation, Duperreault expressed his hope that it would remain recognized as the world’s risk capital. “I don’t think the tax is going to make that much of a difference,” he stated, referencing the Bermuda Corporate Income Tax Act of 2023, which instated a 15% corporate income tax (CIT) for Bermuda-based multinational enterprises (MNEs) with annual revenues of EUR 750 million or more, effective in 2025. He explained that the move was a long-term effort of the G20 to implement a minimum tax in Bermuda.
“And Bermuda brought the industry and the regulator together, hand-in-hand to work out how to do this in a very intelligent way. So, I think it’s going to be fine. I don’t think it’s really going to affect Bermuda, I don’t think it’s going to affect capital formation, the attraction of talent or the ability to manage [risk],” he added.
Duperreault’s recent executive role at Mereo signifies his return from retirement, as he noted, “there’s only so much golf you can play.” Impressed by the company’s concept, he found the opportunity a natural fit. He highlighted Mereo’s unique structure, where management is not directly involved in the capital it deploys, comprising a Bermuda-based reinsurance company rated A-minus, along with various ILS funds and a specialty fund.
“We’re managers of capital,” he explained. “And I’ve always thought in a good insurance team, particularly the underwriters, their job is to match risk and capital. We have several capitals, so we believe that we can find almost any risk a home within the family of capitals that we’re managing.”
Summit attendees were also given a preview of Duperreault’s forthcoming biography, penned by Wendy Davis Johnson, a well-known figure in Bermuda’s communications sector. He stated, “I hope it gives the people who read it some help in the formation of their own career and their own development. After 50 years, you learn it the hard way, you make a lot of mistakes, and hopefully in there you’ll see what I’ve learned from them.”
Reflecting on his principles developed over his extensive career, Duperreault shared his key takeaways. First and foremost, he underscored the importance of ethical conduct. He stated that doing the right thing is fundamental, even when its consequences seem daunting. “But I will emphasize this till I die – you have to do the right thing. It works out in the end.”
Secondly, he noted the value of surrounding oneself with the right individuals. He expressed that effective delegation depends on the team around you and that talent is found in capable people he chooses to work with. He advocates being open to new opportunities. “I never wrote down a five-year plan… But I was always open to the possibilities of what might come.” Duperreault has always been willing to seize unforeseen chances rather than sticking to what he has accomplished.
“If I had clung to the ACE job, I never would have been in Marsh, or Hamilton, or returned to AIG. So. I say, be open, be prepared and seize the opportunity when it comes. Don’t be afraid, take a chance,” Duperreault advised.
