New cyber broker led by former HSCM CUO enters market

A former partner of  Hudson Structured Capital Management (HSCM) has launched a new insurance broker focused exclusively on cyber in Bermuda.

Edouard von Herberstein (pictured), the former CUO of Hudson, has raised seed capital and received in-principle approval to launch Spectra.

Spectra will initially launch as a broker licensed by the Bermuda Monetary Authority (BMA) but will look to develop into an MGA from next year, Von Herberstein confirmed with this publication.

It will initially partner with managed service providers (MSPs) and certify their cybersecurity services. Over time, he will also explore underwriting systemic risk transfers to the capital markets.

Before joining HSCM, Von Herberstein was a senior underwriter at Ariel Re.

Prior to that, he worked at Goldman Sachs and served as an underwriter at Glacier Re in Zurich. Earlier in his career Von Herberstein was a reinsurance pricing analyst and

Spectra has also hired Eric Altamura, previously an advisory manager at KPMG, as its cyber risk director.

Spectra has a board of respected industry advisors including Dan Carr, Ariel Re’s head of cyber, Vikas Singhal, partner and head of VC at HSCM, Patrick Bousfield, chair of Lockton Re’s cyber centre, and Andre Perez, the founder of Horseshoe.

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