Coalition enters long-term US capacity agreement with AspenCoalition has entered a new multi-year agreement with Aspen Specialty Insurance Company to deploy cyber insurance capacity in the US, expanding the insurtech’s existing relationship with the Bermudian carrier.
Resilience launches tech E&O coverage with $10mn limitsCyber insurtech Resilience has launched technology errors and omissions coverage for US organisations with $300mn to $10bn in revenue.
MGA Nirvana names García–Beltrán European head of cyberSpecialty MGA Nirvana has appointed cyber veteran Andrea García–Beltrán as head of cyber Europe.
Cyber MGA Corvus expands tech E&O product following Travelers takeoverBoston-based cyber underwriter Corvus has launched an expanded tech errors and omissions product featuring an enhanced appetite backed by Travelers, along with the firm’s risk advisory and claims handling services.
Evolve names Laxner chief underwriting officerCyber specialist Evolve has added Branden Laxner to its ranks as chief underwriting officer, with the new hire joining the MGA following a short stint at Ambridge Group.
Cyber SPA 1925 targets $70mn GWP in debut year but ambitions much greaterMGA and modelling firm Envelop Risk’s special purpose arrangement, Envelop SPA 1925, is on schedule to write $70mn cyber (re)insurance GWP in 2024 after a strong January launch.
Resilience expands offering to global clients of $10bn in revenueCyber insurtech Resilience has expanded its underwriting authority to serve large global companies with up to $10bn in annual revenues, The Insurer can reveal.
Coalition in M&A talks with Envelop Risk for cyber reinsurance entryAmid predictions that 2024 may see a flurry of transactions among cyber MGAs, Allianz-backed Coalition has entered talks with leading reinsurance MGA and modelling firm Envelop Risk, The Insurer can reveal.
HDI Global Specialty takes majority stake in Falcon from Griffin HighlineHDI Global Specialty has taken a majority stake in Falcon Risk Services, buying out founding investor Griffin Highline’s stake, with the firm saying it expects the financial lines and cyber-focused MGA to be “a major growth driver” for it in the US.
Travelers completes ~$435mn Corvus acquisitionTravelers has completed its previously announced $435mn acquisition of cyber MGA Corvus Insurance.
Coalition launches Allianz-backed active cyber insurance cover in AustraliaCoalition has expanded its active cyber insurance products to Australia, with capacity provided through a multi-year agreement with Allianz Australia.
Travelers to acquire cyber MGA Corvus in ~$435mn dealTravelers has agreed to acquire cyber MGA Corvus Insurance in a $435mn deal which is expected to close in the first quarter of 2024.
Onda launches in London to provide cyber insurance to UK SMEsOnda, a new Lloyd’s-backed cyber insurance MGA, has launched in London, led by former Tokio Marine Kiln senior cyber underwriter Alex Jomaa as chief underwriting officer.
USQRisk launches cyber program Pera with Chaucer capacityUSQRisk’s MGA incubator and accelerator unit Desq has launched its first offering, a cyber and blended cyber and technology E&O-focused program targeted at large US-domiciled corporates.
Breach agrees Accelerant capacity deal for new Crypto Shield Pro offeringInsurtech MGA Breach Insurance has agreed a capacity deal with AM Best A- rated Accelerant to support a new program targeted at institutional clients of crypto custody solutions.
Corvus expands capacity partnership with Travelers to US productsCyber MGA Corvus Insurance has expanded its relationship with Travelers to US products, adding to its existing arrangement in the continental European market.
Envelop Risk launches partnership initiative to aid cyber market growthCyber specialist Envelop Risk is seeking to bolster growth of the cyber (re)insurance market with the launch of Cyber Partnership Platforms – a programme for cedants wishing to either enter the market or expand their existing participation.
Cowbell launches SME cyber product in UK and hires Aston Lark’s AleppoCyber specialist Cowbell has launched a new UK-based program called Prime One targeting SMEs and the middle market and announced the hire of former Howden and Aston Lark executive Catherine Aleppo as its new UK sales director.
MGA start-up Converge hires Ambridge’s Ryan Mimmo as head of cyber underwritingRecently launched SME-focused cyber MGA Converge Insurance has named Ambridge Partners’ Ryan Mimmo head of cyber underwriting, following a July management reshuffle in which chief insurance officer Tom Kang was appointed CEO.
Mulberri launches SMB cyber MGA with paper from Kestrel’s Park NationalAI-driven insurance platform Mulberri has launched a cyber insurance MGA which is aiming to help embedded insurance partners and their small and medium-sized business clients protect against the potential financial hit from cyber attacks.