Resilience expands into Europe with HDI backing and new approach to cyber
Cyber managing general agent (MGA) Resilience is expanding its footprint in the Europe market, unveiling operations in Ireland, Spain, Italy, Sweden, Denmark, with more locations to follow. The EU launch comes on the heels of its foray in the US and UK.
In a deal brokered by Lockton Re, the newly launched Resilience Solution will offer European clients access to up to $5 million in limits, with coverage backed by HDI Global Specialty SE. This builds on Resilience's partnership with Intact Insurance.
The company said as the European market has struggled with high prices, limited policy terms, and legacy approaches to underwriting in the cyber space, Resilience Solution seeks to provide brokers in the EU with access to a new way to assess, measure, and manage their clients’ cyber risk.
“We’ve built an approach to help enterprises better manage their cyber risk with measurable results. Even as threats like ransomware surged in late 2022, we saw the benefits of building a continuous relationship with our clients — and they saw a marked improvement from the status quo,” said Vishaal “V8” Hariprasad, CEO and co-founder of Resilience. “Together with our growing team and incredible set of partners, we are opening the doors to serve more clients in Europe, bringing this approach to more businesses around the world.”
Mario Vitale (pictured), president of Resilience, added: “The European market is incredibly complex in terms of cyber and regulatory risk. Having a solution that not only provides risk transfer but also helps clients understand their unique threat exposure is a game changer for enterprises across the continent.”
The new European operations will be supported by experienced underwriters - Andrea Nicelli as head of Italy and Spain, Edoardo Zorzin as senior underwriter Spain, Cailee Steininger as senior underwriter Ireland and Nordics, and Giusy Boccia as underwriting assistant, Europe.
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