Reinsurance News
cyber ILS
Beazley closes $300m cyber catastrophe bond
15th December 2025
Specialist insurer Beazley has secured $300 million of cyber reinsurance protection with its latest cyber catastrophe bond, PoleStar Re Ltd. (Series 2026-1). This is the fourth and largest 144A cyber catastrophe bond sponsored by Beazley under PoleStar Re Ltd. It means that as of today, the insurer has $670 million in ... Read the full article
Beazley expects new Bermuda platform to deliver ~$400m premium by 2030
25th November 2025
Beazley, the London headquartered specialist insurer and reinsurer, has confirmed that it foresees "strong growth trajectory" for its new Bermuda platform, with around $400 million in premium expected by 2030. This morning, Beazley announced plans to establish a presence in Bermuda in early 2026, subject to regulatory approval, with $500 ... Read the full article
Lack of discipline in unprofitable US cyber market is somewhat surprising: Beazley CEO
25th November 2025
Adrian Cox, Chief Executive Officer of specialist insurer Beazley, said this morning that the US cyber insurance market is now unprofitable and continues to soften given the active claims environment. London headquartered Beazley reported today that within its cyber risks division, premiums are down 8% for 9M'25 from 6% at ... Read the full article
Cyber insurance premiums stabilise in 2025, but market penetration remains below 10% for SMEs: S&P
14th May 2025
Cyber insurance is progressing toward maturity, but key challenges remain, according to insights shared during a recent webinar hosted by S&P Global Ratings, a provider of credit ratings, research, and risk analysis. During the session, titled “The Changing Face of Cyber Insurance,” a panel of S&P Global Ratings analysts and industry ... Read the full article
Parametrix supports Hannover Re’s renewal of $20m Cumulus Re cloud outage cat bond
26th March 2025
Hannover Re, one of Europe's big four reinsurers, with the support of Parametrix, has secured $20 million of retrocessional protection for losses caused by a sustained cloud outage event, with this second catastrophe bond transaction 45% larger than the inaugural deal. Cumulus Re II, or Cumulus Re (Series 2025-1) as ... Read the full article
Beazley forecasts cyber insurance market to grow to $40bn by 2030
2nd October 2024
Specialty insurer Beazley predicts that the cyber insurance market will grow from $15 billion in 2024 to $40 billion by 2030, driven by increasing demand due to rising cyber threats and costs, as the firm continues to manage its exposure amid premium growth. In its latest Cyber Risk Update, Beazley highlights ... Read the full article
There is plenty more to come for the Cyber ILS market: Norris, Gallagher Securities
20th May 2024
With Beazley securing an additional $160 million of reinsurance with its second 144A cyber catastrophe bond, PoleStar Re Ltd. (Series 2024-2), as we reported last Friday, Theo Norris, Head of Cyber ILS, Gallagher Securities, has said that there is "plenty more to come for the Cyber ILS market." Gallagher ... Read the full article
Beazley secures additional $160m of reinsurance with second 144A cyber cat bond
17th May 2024
London headquartered insurer Beazley has sponsored its second 144A cyber catastrophe bond, securing an additional $160 million of capital markets-backed cyber reinsurance coverage via a PoleStar Re Ltd. (Series 2024-2) issuance, as reported by Artemis, our insurance-linked securities (ILS) focused sister publication. Artemis has learned from sources that this ... Read the full article
Hannover Re & Parametrix launch world’s first cloud outage catastrophe bond
15th April 2024
Large European reinsurer Hannover Re has, in collaboration with Parametrix, issued the world's first cloud outage catastrophe bond, a $13.75 million privately placed transaction called Cumulus Re. Issued via Hannover Re's wholly owned Bermuda domiciled subsidiary, Kaith Re Ltd., the parametric cat bonds provide the reinsurer with incremental retrocession coverage against ... Read the full article
Diversification within cyber ILS is possible, says CyberCube
29th February 2024
CyberCube’s analysis of all the 144A cyber catastrophe bonds issued to date shows that diversification within cyber as an asset class is possible. In a recent white paper titled "Digital Ties and Natural Divides: Correlation and Diversification in Cyber Catastrophe Bonds" - the firm addresses the concern amongst investors regarding the ... Read the full article
Arrival of cyber catastrophe bonds a ‘pivotal step’: Moody’s RMS video interview
30th January 2024
The introduction of the first 144A cyber catastrophe bond transactions in the final quarter of last year was an important step in the development and advancement of the broader cyber risk transfer market, according to Damini Mago and Alice Woolley of Moody's RMS. The latest video interview in ... Read the full article
DeNexus: Tackling cyber risk from the ground up
24th January 2024
Since its inception in 2019, DeNexus, the specialist provider of cyber risk quantification tools and software, continues to invest heavily to improve its technology and analytics, and with the sixth version of its DeRISK platform in the works and the receipt of a broker licence in Bermuda, the company sees ... Read the full article
Beazley successfully closes its first 144A cyber catastrophe bond
2nd January 2024
Specialist insurer Beazley, has closed its first 144A cyber catastrophe bond providing cover of $140 million. This marks Beazley’s first inaugural 144A bond and builds on its $81.5 million cyber catastrophe bond programme of 2023. The PoleStar Re Ltd. Series 2024-1 Class A cyber catastrophe bond notes cover Beazley for ... Read the full article
Cerchia adds cyber cat industry-loss index to its platform
8th December 2023
Cerchia, a provider of decentralised risk transfer solutions, has successfully integrated a cyber cat industry-loss index, featuring data sourced from PCS (Property Claim Services), expanding its risk transfer capabilities, beyond classical Nat Cat. The addition of this new risk Index expands Cerchia’s risk transfer capabilities beyond pure property catastrophe risk, which ... Read the full article
AXIS successfully closes market’s first 144A cyber catastrophe bond
29th November 2023
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, today announced the closing of the market’s first 144A cyber catastrophe bond, a $75 million Long Walk Reinsurance Ltd. transaction which provides the firm's subsidiaries with fully collateralized indemnity reinsurance for systemic cyber events on a per-occurrence basis. The $75 million of Series ... Read the full article
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