Foundry Announces Senior Management Appointments
Pembroke, Bermuda. May 4, 2026
Foundry Insurance Services Ltd. (“Foundry”), a centralized management platform for the life and annuity sector, today announced the appointment of Jon Steffen as President and Chief Actuary and Tom Duggan as Chief Investment Officer. The hires reflect Foundry’s commitment to assembling institutional-caliber leadership as it builds out its investment, risk and capital management capabilities.
Jon Steffen — President and Chief Actuary
Jon Steffen brings nearly two decades of life and annuity reinsurance expertise to Foundry, with a proven track record of building and scaling reinsurance platforms. Mr. Steffen joins from Aspida Life Re Ltd., where he served as President, Chief Actuary, and the operational leader of the platform. Prior to Aspida Re, he served as the Approved Actuary for Athene Life Re Ltd. Mr. Steffen holds a Bachelor of Science in Actuarial Science from the University of Illinois Urbana-Champaign and is a Fellow of the Society of Actuaries.
“Foundry represents exactly the kind of platform the life and annuity market needs right now — one that combines deep actuarial rigor with the flexibility to deliver bespoke capital solutions,” said Mr. Steffen. “I’m excited to join Andrew and the team at this pivotal moment and to help build a platform that truly serves our insurance partners’ evolving competitive and capital needs.”
Tom Duggan — Chief Investment Officer
Tom Duggan joins Foundry from Catalina Re, where he most recently served as Chief Investment Officer for Bermuda and the U.S. He has spent his career focused on complex asset classes at the intersection of insurance and alternative investments. Prior to Catalina, he was Senior Vice President, Manager Research at Redington, where he led research and asset allocation for Private Credit and Insurance/Re-insurance Linked Securities. Mr. Duggan holds a Master of Science degree in Accounting and Finance from the University of Surrey.
“Foundry is building something genuinely differentiated in the Bermuda life and annuity space, and I’m thrilled to be part of it,” said Mr. Duggan. “With the support of Blackstone and the platform that has been established, we have a compelling opportunity to deploy thoughtful investment strategies that deliver for both our insurance partners and their policyholders.”
Andrew Markus, CEO of Foundry, added: “Jon and Tom are exactly the kind of people we set out to attract when we launched Foundry — deep experts in their respective disciplines who believe in Foundry’s vision. Jon’s actuarial depth and Bermuda reinsurance experience combined with Tom’s investment expertise will be instrumental as we continue to grow our platform and serve our insurance partners. I’m delighted to welcome them both to the team.”
About Foundry Insurance Services Ltd.
Foundry Insurance Services Ltd. is a management platform for the life and annuity sector, located in Bermuda, with a focus on investment, risk, and capital management. Foundry is led by Andrew Markus, a seasoned Bermuda insurance executive, and his team.
Contact
Foundry Insurance Services Ltd. | Wellesley House 3rd Floor | 90 Pitts Bay Road | Pembroke Bermuda HM08