// Envelop Capital Markets

Connecting cyber risk with capital.

Envelop Capital Markets compliments our traditional underwriting by extending risk-transfer solutions for cedants to capital markets and other capacity providers.

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// About Envelop Capital Markets

Armed with advanced cyber risk models underpinned by the market’s largest data set of cyber-related claims and exposure data, we offer investors an analytical capability unparalleled in the cyber reinsurance market.

Envelop uses insights from experienced underwriting and portfolio management teams as a competitive edge to outperform the market. As a result, we offer access to attractive, profitable portfolios of cyber risk to diversify wider investment portfolios.

Envelop offers origination and underwriting benefits through the broader Envelop platform. Seasoned underwriters and Envelop Labs collaborate to create bespoke cyber opportunities, package deals into profitable portfolios and provide investors with superior risk-adjusted returns.

Our market-leading position is built on an impressive seven-year track record of consistent profitability. With global reach and preferential access to deal flow, we bring to bear these strengths in pursuit of underwriting alpha.

Sources of Risk

Envelop Capital Markets

Capacity Providers

Insurance Companies

Reinsurance Companies

ILS Funds

Fronting Companies

Captives

InsurTechs

Reinsurance Companies

ILS Funds

Pension Funds

Multi-Strat Funds

Sovereign Wealth Funds

Endowment Funds

Family Offices

Commercial Banks

Distinct Investment Strategies

High Yield Excess of Loss

Investment primarily in cyber excess of loss reinsurance treaties
Diversification in underlying insureds across geography, industry vertical and revenue band
Short-tailed risk profile with early collateral release in the event of no loss

High Yield Premium Leverage

Investment primarily in cyber quota share reinsurance treaties
Focus on less volatile risk profiles
Longer-tailed risk profile with later collateral release
Investment return supplemented by significant premium float

Tailored Mandates

Portfolios of cyber risk built to achieve investors’ specified risk-return profiles
Access to a diverse array of reinsurance structures across indemnity, parametric and index-linked risk transfer

Envelop Capital Markets  operates Augmented Re.

Augmented Re is Envelop’s Bermuda Class 3A collateralised reinsurer. It is licensed and regulated by the Bermuda Monetary Authority.

This vehicle has segregated account capability to transform risk on behalf of multiple distinct capital bases.

Envelop Capital Markets has established relationships with world-leading fronting specialists.

Non-recourse leverage introduced through these partnerships can be used to adjust risk in pursuit of higher returns.

> The Envelop Edge

People

Multi-disciplinary team combining experts across cyber, insurance, technology and Insurance Linked Securities (ILS).

Tools

Market-leading cyber risk technology allows deployment of unique AI techniques and advanced analytics.

Distribution

Visibility and distribution across global market, with preferential access due to deep market relationships.

Capital Management

Return-orientated approach blending multiple capital structures.

Alignment

Hybrid balance sheet enabling co-investment of Envelop proprietary capital supported by blue chip investors.

Superior Data

First-mover advantage in cyber reinsurance with philosophy of aggressive data collection since inception.

Track Record

Market-leading loss ratios since 2018 have enabled continued profitable growth with valued capacity partners.

Market Relevance

Market share improves control over pricing, terms and conditions, and access to private deals with preferred counterparties.

Structuring

ILS expertise, fronting carrier relationships and cost-efficient mechanisms to transform risk to capital market investors.

Portfolio Management

In-house tools for superior portfolio construction to meet capacity partners’ risk-return preferences.

// Cyber Threat Intelligence

Continuous cyber threat intelligence from our in-house experts, which informs risk assessment and estimation and provides valuable insights on the threat landscape and emerging challenges. Threat intelligence supports:

Real-time data to inform our risk models
Publishing bulletins to partners and cedants on current activities
Rapid exposure management updates

More about Envelop’s Cyber Intelligence

// CyberTooth

A proprietary risk estimation and capital management system.

Utilising AI algorithms to forecast attritional and catastrophic losses dynamically.

Learn how we use AI and human expertise to improve upon traditional rules-based scenarios and static risk models.

More about CyberTooth

// Augmented Underwriting

Capturing the unique contributions of human expertise and artificial intelligence.

We nurture close collaboration between experienced underwriters, cyber threat intelligence experts and data scientists.

Envelop’s capability is enabled by the largest data set of cyber-related information in the marketplace.

More about Augmented Underwriting

Featured Resources

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Envelop Risk launches Envelop Underwriting with Dom Peters as CEO

Envelop hits $1bn GWP milestone; MS Reinsurance extends backing for another three years

Envelop launches services business Envelop Risk Solutions