New MGA led by ex-Validus CEO to target large cyber market

Analytics platform QOMPLX has launched a new US-based managing general agency (MGA) led by former Validus Re executives Conan Ward and Romel Salam.

The new MGA, called RubiQon Risk & Insurance Services/RubiQon Re, will offer cyber insurance, along with multi-line treaty and facultative re/insurance utilizing QOMPLX’s modeling and analytic capabilities.

Ward is the former CEO of Validus Re and Hamilton USA, while Salam is the former CRO of Validus Holdings and former chief actuary & CRO of Validus Re.

The initial launch will be in the fall of 2020 and will target the large cyber market.

“The unique capabilities of QOMPLX’s decision platform, cybersecurity solutions and professional consulting presented an opportunity to build a world-class infrastructure that merges the best of today’s technological revolutions, cyber expertise and a deeply knowledgeable re/insurance team,” said Ward, GM and president, RubiQon Risk.

He added: “We’re looking to bring strategic-level solutions and insight to bear for our risk partners, not just tactical product solutions. It is extremely difficult for carriers to innovate, add technology and big data infrastructure, and still keep their factory lights on. We are prepared to work hand-in-glove with a small number of key partners to create a more symbiotic relationship between carriers and RubiQon to broaden their capability map, distribution outlets and product offerings.”

Salam, principal and CRO for RubiQon Re, said: “Because the cyber threat is so pervasive and dynamic, we can’t think of another class of business that requires a more thoughtful approach to underwriting. We are excited about leveraging QOMPLX’s best in class technology platform and cybersecurity expertise to bring comprehensive and innovative risk management solutions to our clients and partners.”