MS Amlin strikes cyber reinsurance underwriting partnership

Global re/insurer MS Amlin and specialty cyber re/insurance analytics and underwriting firm Envelop Risk have unveiled a cyber reinsurance underwriting partnership at the reinsurance Rendez-Vous in Monte Carlo.

The partnership between MS Amlin and Envelop Risk will enable them to offer bespoke, cutting-edge solutions to the cyber reinsurance market, according to the companies.

Envelop Risk will be responsible for the sourcing, underwriting, product development and marketing of cyber reinsurance deals led by Ari Chatterjee, Envelop Risk chief underwriting officer, while MS Amlin will assist with risk management and advising on the reported claims.

Under the terms of the partnership, Envelop Risk and MS Amlin will underwrite a cyber reinsurance portfolio with MS Amlin AG as capacity provider. The portfolio will cover both proportional and non-proportional structures, and target multiple geographies. Underwriting capacity will be available from Oct. 1 with various transactions already under consideration, according to the corporate statement.

James Few, global managing director of reinsurance at MS Amlin, said: “One of the biggest obstacles to growth that the market faces is a lack of credible risk quantification tools matched with specialist underwriters who really understand the product class. The partnership with Envelop is an elegant solution to this problem, leveraging their best-in-class analytics with our established presence in the global underwriting market. We are excited to see what the partnership can unlock and achieve.”

Envelop Risk CEO, Jonathan Spry, added: “We are delighted to be partnering with MS Amlin, to address the material and growing reinsurance of cyber related risks, embracing the complexity which has to date prevented an efficient risk transfer market developing. We believe MS Amlin’s global capability and expertise to be an ideal fit for our approach, underpinned by Envelop’s proprietary AI analytics.”

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