FORTY under 40: Meryl Bermond
Meryl Bermond, business development manager, Descartes Underwriting.
Meryl Bermond began her career at Chubb Europe, where she had the opportunity to work on structuring multinational captive programmes across various lines of business. This experience deepened her understanding of global insurance and risk management. From there, she moved to Willis Towers Watson New York, where she focused on innovative solutions such as captive structured solutions and multi-line, multi-year programmes. These projects pushed the boundaries of traditional risk transfer.
Currently she’s with Descartes, a French insurtech company, where she has played a key role in scaling the business and applying parametric insurance solutions within captives. Descartes aims to bring fresh, innovative approaches to risk management, helping organisations take control of their risks with more customised and forward-thinking solutions.
How did you first become involved in captive insurance?
At first with Chubb Europe, where I had the chance to work on complex multinational programmes. One notable project was for a pharmaceutical group, where I structured a multinational clinical trials programme involving more than 200 policies. This project sparked my interest in how captives can provide tailored risk management globally. Later, I worked on a cyber captive multinational programme for a payment service provider, which further deepened my understanding of how captives can be used to address emerging risks such as cyber threats. These experiences helped me realise the immense potential of captives to offer customised and flexible solutions to businesses facing diverse and complex risks.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
One is adapting to the growing impact of climate change and the evolving risk landscape it creates. Extreme weather events, such as floods, wildfires and hurricanes, are becoming more frequent and severe, significantly increasing the exposure to physical and financial risks. Captives will need to develop more sophisticated models to assess, price and transfer these risks. This includes leveraging advanced data analytics and parametric insurance solutions to predict and respond to climate-related events better. This is exactly what I’m focused on at Descartes, and what makes the work so exciting – being at the forefront of developing new approaches that can truly make a difference in how businesses address climate-related challenges.
Would you recommend the captive insurance industry to young people as a future career path?
Absolutely. The captive insurance industry is dynamic and offers a unique combination of strategic thinking, risk management and innovation. For young professionals, it’s an exciting space that encourages creativity and offers opportunities for significant career growth. The industry is also evolving rapidly, with increasing interest in parametric insurance and advanced risk transfer solutions. For those interested in solving complex problems, working across borders and being part of a transformative sector, I would highly recommend a career in captives.
What developments do you see ahead for captives?
One of the most exciting developments ahead for captives is their potential to drive and support ESG transformation within the insurance industry. As companies increasingly focus on sustainability and social responsibility, captives can be a key enabler by offering tailored solutions to help businesses manage the risks associated with environmental, social and governance factors. For example, captives can play a role in covering the risks related to environmental liabilities, such as carbon emissions, pollution or the impact of climate change, which are becoming more prominent in corporate risk management strategies.
By incorporating ESG factors into the design of captive insurance programmes, organisations can ensure their risk strategies align with their broader sustainability goals, making captives not only a tool for managing traditional risks but also a means to demonstrate a commitment to responsible business practices.
Do you think your long-term future remains in the captives market?
Yes, I do, particularly as the industry continues to evolve and embrace new solutions such as parametric insurance. The potential for captives to integrate these innovative approaches is immense, especially as organisations seek more tailored and flexible risk management strategies in the face of emerging challenges such as climate change.
Moreover, as the industry evolves, it’s crucial that we encourage more diversity, particularly the involvement of women, in shaping its future. I strongly believe a more inclusive industry will encourage the next generation of leaders who will continue to push boundaries and drive the captives market forward.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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