Danish Iqbal returns to Somerset Re as CEO

Danish Iqbal has been appointed as the new Chief Executive Officer (CEO) of Somerset Re, a reinsurer for life insurance and annuity companies, effective April 30th, 2025.

Iqbal is succeeding Jeff Burt, who will become co-CEO of recently launched Aquarian Insurance Holdings (AIH), the holding company for Somerset Re.

AIH brings together Aquarian Holdings’ reinsurance and retail insurance business, and was created with the goal of enhancing growth and improving operational efficiencies.

Iqbal is returning to Somerset Re after serving as Head of Pricing and Valuation earlier in his career. He is rejoining the company following his tenure as President of Neptune Reinsurance Limited.

Neptune, a Bermuda-domiciled reinsurer, was integrated into Somerset Re in December 2024.

As Neptune President, he was responsible for establishing the organization’s infrastructure and ensuring that the entity was licensed with the Bermuda Monetary Authority.

Prior to that, the executive served as Chief Actuary at Aspida Re, which used to be F&G Re. During this time he was responsible for all actuarial functions and led F&G Re’s sale process to Ares Management Corporation.

Commenting on his appointment, Iqbal said: “It’s an honor to be selected as CEO for Somerset Re. 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.”

Through the transition, Iqbal and Burt will be sharing co-CEO responsibilities connected to Somerset Re team and mission to ensure a seamless and consistent leadership.

“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,” Burt commented.

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