// Press Release
Envelop Risk, a global specialty cyber underwriting firm, today launches Bermuda-based Envelop Capital Markets, a practice led by veteran underwriter and ILS specialist David Ross (Executive Vice President of ILS & Capital). The practice will bring new and efficient sources of risk capital to the cyber reinsurance marketplace, while developing and underwriting indemnity, parametric and index-based structures to best fit with this capital. Envelop Capital Markets has launched Augmented Re, its own Class 3A Reinsurer, which it will use to develop a collateralized reinsurance market for cyber risk.
Ross, commented: “Envelop Risk have developed a market-leading capability in underwriting Cyber Reinsurance supported by best-in-class analytics. At Envelop Capital Markets we match Cyber risk with capital, and expect ILS investors to be a growing part of this capital base. I look forward to developing Envelop Capital Markets into the primary global risk transfer hub for cyber risk.”
Ross will work closely with Envelop Risk CUO Ari Chatterjee in Bermuda, and Envelop’s cyber risk and portfolio analytics teams in the UK.
Jonathan Spry, Envelop Co-founder and CEO said “We all know capacity is at a premium throughout the value chain; we seek to unlock growth by aligning capital deployment needs with investment opportunities that expand the business of our insurance and MGA clients.”
