New Lloyd’s-backed syndicate enters US cyber market with ex-Aspen leaders

A new Lloyd’s-backed syndicate has entered the US cyber market with former  Aspen leaders and fresh capital backed by  Pelican Ventures and third-party capital providers to write as much as $50 million in gross premiums in the cyber market for 2023.

The US-based entity of Trium Cyber, a Lloyd’s of London cyber specialist, has begun providing cyber and technology errors & omissions coverage for US-domiciled risks.

Trium Cyber claims to be the “industry’s first Lloyd’s-approved company providing mono-line cyber coverage for US risks”. The company uses its own proprietary underwriting methodology and advanced claims platform, and also offers cyber risk management and real-time loss mitigation services.

The company is led by Josh Ladeau as chief executive officer. Ladeau was formerly global head of cyber for Aspen. Jeff Bores, also formerly of Aspen, will serve as Trium’s chief underwriting officer.

“Trium Cyber’s management team is uniquely qualified to service the US market while offering Lloyd’s A+ rated security to our clients,” said Ladeau. “Our team members are known in the industry for their advanced technical underwriting, outstanding claims management and depth of experience.”

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