Reinsurance News
cyber ILS
Beazley sponsors debut two cat bonds in tandem, one cyber one nat cat
22nd November 2023
Specialist insurer Beazley is tapping the capital markets for reinsurance protection against cyber risks and named storm and earthquake losses with its first two Rule 144a catastrophe bond transactions. After sponsoring three private cyber cat bonds earlier this year, London headquartered Beazley has returned with its debut full 144a issuances, both ... Read the full article
We’ve matured and now understand client needs in much more detail: Envelop Risk CEO
25th October 2023
Since its official launch in 2018, cyber re/insurance underwriting firm, Envelop Risk, has matured and grown alongside an increasingly sophisticated cyber re/insurance market. As such, it is now able to better understand the needs of its clients, according to Co-Founder and Chief Executive Officer (CEO), Jonathan Spry. As the global insurance ... Read the full article
Beazley’s first 144a cyber catastrophe bond expected by year-end
19th October 2023
London-based specialty insurer and reinsurer, Beazley, is set to follow up on its three private transactions with its first full 144a cyber catastrophe bond issuance by the end of the year, according to Artemis sources. Our insurance-linked securities (ILS) focused sister site, Artemis, reported earlier today that Beazley is close ... Read the full article
AXIS sponsors first ever 144a cyber catastrophe bond
18th October 2023
As first reported by our insurance-linked securities (ILS) focused sister site, Artemis, Bermuda-based insurer and reinsurer AXIS Capital Holdings has sponsored the world's first full 144a cyber catastrophe bond, a $75 million Long Walk Reinsurance Ltd. (Series 2023-1) transaction. Artemis sources confirmed that this cyber cat bond will provide ... Read the full article
Beazley sponsors second cyber cat bond, secures $20m more reinsurance
25th May 2023
Specialty insurer and reinsurer, Beazley, has sponsored its second cyber catastrophe bond, adding $20 million of additional reinsurance protection via the issuance of Cairney II, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. In January, Beazley became the first to sponsor a cyber catastrophe bond when ... Read the full article
We really need to understand what cyber insurance is: Matt Harrison, Moody’s RMS interview
3rd May 2023
As the cyber insurance and reinsurance market continues to develop and expand, with the risk also growing in popularity within the insurance-linked securities (ILS) space, Matt Harrison, Director of Product Management for Cyber at Moody’s RMS, highlights the importance of understanding exactly what cyber insurance is. Read the full article
Now is the time for cyber ILS: Lockton Re
21st February 2023
In a joint report with CyberCube and Envelop Risk, Lockton Re has highlighted how Insurance-Linked Securities (ILS) can support additional re/insurance capacity for cyber risk, and why it now has the momentum to succeed. Lockton Re's report, 'Unlocking Potential', notes that there have been discussions for many years on the potential ... Read the full article
Cloud outage next risk class primed for ILS risk transfer, says Parametrix
16th February 2023
Parametrix has announced it is working to bring Insurance-Linked Securities transactions to market which would protect ceding re/insurers against a sustained outage of “the cloud” to which many are exposed through their cyber portfolios. The leading provider of cloud downtime insurance suggests that a “Cloud-in-a-Box” transaction would employ a concrete, predetermined, ... Read the full article
UK insurers reported in talks on Pool Re expansion to cover cyber
20th January 2023
Amid growing concern over the safety net provided by the private sector, insurers have held discussions with the UK government over whether its terrorism reinsurance scheme should cover state-backed cyber attacks, suggests a report from the Financial Times. Pool Re, the UK Government's terrorism reinsurance scheme, was put in place in ... Read the full article
Hannover Re and Stone Ridge in $100m retrocession cyber quota share
19th January 2023
Hannover Re, one of the world's largest reinsurers, has, for the first time, transferred cyber risks to the capital markets via a proportional reinsurance solution, with New York-based Stone Ridge Asset Management supporting the transaction with USD 100 million of capital. The German reinsurer has created an additional retrocession tool that enables ... Read the full article
Beazley confirms placement of market’s first cyber cat bond
9th January 2023
Specialist re/insurer Beazley has now confirmed that it has sponsored a ground-breaking cyber catastrophe bond transaction, designed to cover remote probability catastrophic and systemic cyber events, with the potential for more deals later in 2023 and beyond. It was reported earlier by the Financial Times that Beazley, the London headquartered ... Read the full article
Beazley launches $45 million cyber catastrophe bond
9th January 2023
Specialist insurer and reinsurer Beazley has launched a $45 million cyber catastrophe bond, providing the carrier with protection against "remote probability catastrophe and systemic events", opening up a much larger source of capital for the firm, according to a report by the Financial Times. It's been described as the first cyber ... Read the full article
Stage is set for real traction in cyber ILS in 2023, says CyberCube
6th January 2023
In CyberCube's 2023 cyber predictions report, the firm's CEO Pascal Millaire has suggested that the reinsurance value chain will work together with ILS fund managers to bring new cyber reinsurance capacity to the market. Millaire stated that cyber insurance has the potential to become one of the largest lines in the ... Read the full article
Gallagher Re hires Aon’s Theo Norris as a dedicated cyber ILS broker
12th November 2021
Global reinsurance broker Gallagher Re has announced the addition of Theo Norris to its cyber reinsurance team as a dedicated cyber insurance-linked securities (ILS) broker, as the company continues to bolster its capabilities in the cyber risk space. In his new role, Norris is tasked with building and leading the development ... Read the full article
- ← Previous
- 1
- 2
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
