Acrisure Re launches cyber reinsurance division in partnership with Kovrr
Acrisure Re, the reinsurance division of global insurance broker and fintech services provider Acrisure, has launched a London-based cyber reinsurance division, in partnership with cyber risk modeler, Kovrr.
The new division is led by Tom Quy, Acrisure’s cyber practice leader. It promises to offer a fresh perspective on cyber reinsurance, by combining the knowledge of its broker network with its own analytics capabilities.
Kovrr provides an additional layer of expertise, providing clients with transparent and data-driven risk analysis. Kovrr’s platform allows clients to stress test their portfolios and identify loss drivers and areas of accumulation risk.
Jason Howard, chief executive officer (CEO) at Acrisure Re, said: “The cyber market has experienced significant challenges in recent months, resulting in a hardened market. As such, this has presented us with an opportunity to offer a product which combines our collaborative advisory and analytical capabilities with Kovrr’s unique approach to risk modelling.”
Quy said: “Over the past couple of years, I have worked with the Acrisure London Wholesale team to expand its cyber offering and I am excited to be doing the same for Acrisure Re. Our partnership with Kovrr will add a new dimension to our existing expertise. Modelling the impact of cyber incidents on an insurer’s portfolio is key to supporting the further growth of the cyber reinsurance industry, and our partnership will enhance our ability to be at the forefront of this.”
Yakir Golan, CEO of Kovrr, added: “It’s clear that reinsurance brokers are a fundamental asset to the cyber insurance value chain and that they’ve placed great merit on cyber expertise as an important qualifier for modelling cyber risk.”
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