Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data.
Established in 2016, Tarian is cyber underwriting platform that provides solutions to the cyber risk environment and underwrites on behalf of a consortia of Lloyd’s syndicates.
Tarian is based in London, but its international footprint covers the UK, US, Canada, Middle East, and Australia.
Following the deal, the company will be rebranded as Corvus Underwriting Limited.
“Corvus is now the world’s leading Cyber InsurTech,” said Phil Edmundson, Founder and CEO of Corvus Insurance. “By bringing Tarian into the Corvus fold, we are expanding our international footprint into Europe, Africa and Australia with an experienced and proven team of underwriters.”
“Tarian has expanded its capacity for 2022, which is a testament to its underwriting discipline and strategy. We are thrilled to continue this growth and to bring the entire Tarian team on board, as they share our mission to make the world a safer place.”
“We founded Tarian as a team with extensive market experience that saw an opportunity to become a leader in the cyber insurance market,” added Geoff Pryor-White, CEO of Tarian.
“We have had a great start with Beat and when we become part of Corvus, with access to its data-driven insurance technologies, we can continue our founding mission and support our policyholders as one, dynamic team.”
John Cavanagh, Chairman of Beat Capital, also commented: “We are pleased to have successfully concluded the sale of Tarian which has grown into a significant cyber insurer under our ownership. Beat businesses are formed around leading underwriting talent and Tarian was one of our very first investments.”
“We recognise that in the dynamic world of cyber insurance, the importance of combining underwriting talent with technological investment has become increasingly apparent. The data-driven, cyber technologies of the Corvus Risk Aggregation Platform will provide the Tarian team with best-in-class technology to support its differentiated underwriting proposition.”