Verdant Rock Appoints C. Thomas Chief Underwriting Officer, K. Downs Chief Actuary, and S. Demerling Global Head of Regulatory Affairs

Fresh from A (low) Rating and a Reinsurance Deal, Verdant Rock Names New Chief Underwriting Officer, Chief Actuary and Regulatory Head

Hamilton, Bermuda--(Newsfile Corp. - November 3, 2026) - Verdant Rock Limited today announced the appointments of Carolyn Thomas as Chief Underwriting Officer, Kevin Downs as Chief Actuary, and Sarah Demerling as Global Head of Regulatory Affairs, effective 2 November 2026.

Carolyn Thomas is a Bermudian insurance professional with more than 25 years' experience in credit and political risk underwriting across both Bermuda and London markets. She joins from Aon Reinsurance Solutions, where she advised clients on credit reinsurance and placed Verdant Rock's first 30% quota share reinsurance treaty. Prior to Aon, she was Global Head of Credit and Political Risks at Aspen Insurance, where she led the team across Bermuda, London, and Singapore. She will lead underwriting at Verdant Rock and will work with Verdant Rock's origination and structuring team to build the insurer's financial guarantee business.

Kevin Downs joins as Chief Actuary with more than 30 years of experience in actuarial leadership and risk management across the global insurance and reinsurance industry. He was most recently Senior Vice President, Actuarial and Analytics at RenaissanceRe, and is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. He will provide actuarial oversight across underwriting and risk management, working closely with the underwriting, finance, and risk teams.

Sarah Demerling joins from Walkers (Bermuda), where she was a Partner, led the Bermuda Insurance practice, and led the Investment Funds practice with a specialty in insurance-linked securities. She has more than two decades of experience in the Bermuda legal market. She advised Verdant Rock on its Class 3B licensing and structuring and will lead the company's regulatory affairs globally.

"Sarah and Carolyn have each been part of the Verdant Rock story from the beginning. Sarah advised on our licensing and regulatory structure, and Carolyn placed our first reinsurance treaty. Having them join full time in these roles reflects how we have always planned to build this team: by formalizing relationships with the practitioners who already understand what we are building and why. Kevin brings more than 30 years of actuarial leadership. Together, these appointments strengthen our execution capacity at exactly the right moment." - Tolga Uzuner, Co-Founder and Chief Executive Officer, Verdant Rock Limited.

ABOUT VERDANT ROCK
Verdant Rock Limited is a Bermuda-based insurance company regulated by the Bermuda Monetary Authority as a Class 3B insurer. It holds a BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings and an A (low) Financial Strength Rating from Morningstar DBRS. Verdant Rock issues irrevocable, unconditional, on-demand financial guarantees for Emerging Markets credit across five exposures: Infrastructure, Corporate Loans, Bank Portfolio, ABS, and RMBS. The guaranteed paper is designed for beneficiaries with investment-grade mandates.

https://www.bma.bm/regulated-entities
https://www.fitchratings.com/entity/verdant-rock-limited-97856695
https://dbrs.morningstar.com/issuers/34806/verdant-rock-limited
https://www.fitchratings.com/research/insurance/fitch-rates-verdant-rock-at-bbb-outlook-stable-12-06-2026

MEDIA CONTACT
Kanchan Desai | [email protected] | verdant-rock.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322102