DeNexus Inc, a provider of second-generation cyber risk quantification and management services, has hired Insurance-Linked Securities (ILS) expert, George Mawdsley, as Head of Risk Solutions.
In the role, Mawdsley will directly focus on developing the next generation of risk transfer solutions for the cyber insurance and ILS markets, leveraging DeNexus’ cyber risk quantification and management platform, DeRISK.
He will report to Jose Seara, Founder and Chief Executive Officer of DeNexus.
Mawdsley joins the organisation from Securis Investment Partners, where he spent a decade in the structuring and origination of ILS risk.
Prior to joining Securis, he served as a Lloyd’s Special Risks Underwriter at Hiscox in London.
Addressing Mawdsley’s appointment, Seara said: “George will be an asset to the DeNexus team and strategically critical in our mission to build the global standard of industrial cyber risk quantification for agencies, shareholders, investors, boards and risk transfer market.
“I firmly believe that insurance is a mandatory tool for the proper management of cyber risk, and developing the secondary market and attracting alternative capital is a must for efficient cyber risk transfer solutions to develop, and for the market to scale to its full potential. It is DeNexus’ aim to build up our expertise in order to properly service the cyber risk transfer market, building up from the years of experience serving cyber risk owners, and the knowledge and cyber data accumulated in that process.”
He continued: “George’s experience in origination in the ILS space will further strengthen DeNexus’ understanding of the complex and unique challenges facing ILS investors when securitizing cyber risk, and help us to create innovative fit-for-purpose ILS solutions for the future.”
Mawdsley, commented on his new role: “I had no hesitation in joining this stellar team. They have a superior cyber risk quantification and management product, and exciting ambitions to support a cyber ILS market. I am excited to work side-by-side with DeNexus to effectively connect cyber risk with alternative capital and really make an impact on the cyber insurance market.”
