The Source for Cyber Insurance News, Insights and Data
144a Catastrophe (“Cat”) Bonds are trade-able (re)insurance-linked securities (ILS) that “cover more remote risk and that coverage is on a named-perils basis, which provides a level of predictability.” “’While there have been a few private cyber ILS transactions in the past, the industry is still waiting for the first 144a cat bond,’ Brittany Baker, vice … Read more
In an insurance sector where historical actuarial tables do not exist, analytics are key for everything from underwriting to risk mitigation and response. From the press release: “…$50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors Forgepoint Capital, Hudson Structured … Read more
Eye Security, a subscription-based cybersecurity and insurtech company, lands $17m+ round led by Bessemer Venture Partners. Partner Alex Ferrera notes on Twitter: “We’re betting cyber insurance + XDR (Extended Detection and Response) combined is the future.” Source: Dutch cybersecurity, insurtech startup Eye Security bags €17M to help SMEs fight cyberattacks | Silicon Canals
Financial terms of the transaction were not released. Boxx appears to have wanted the target’s cybersecurity talent as well as the company & its IP. Templarbits CEO/co-founder will head up Boxx’s new R&D effort. “…BOXX has announced the acquisition of Templarbit and the creation of a new R&D Division to deliver effective … Read more
The cyber insurance industry needs reinsurance capital to keep growing. Coalition partnered with BDT Capital to form this independent Bermuda-based Class 3B reinsurer. “Joshua Motta, founder and CEO of Coalition, added, ‘The rapid growth of the cyber insurance industry has outpaced the supply of reinsurance capital. We’re excited for Ferian Re to bring alternative capital … Read more