Cyber Insurance Market, Size, Set For Growth
The global cyber insurance market growth is projected to rise from $16.66 billion in 2023 to $84.62 billion by 2030 according to the IMARC Group. The increasing number of cyberattacks…
Zurich Acquires Cyber Risk Company; Another Example of the Fusing of Cyber Insurance & Cyber Tech
Zurich buys SpearTip to bolster its cyber risk and mitigation services to customers. “‘Both Zurich Resilience Solutions and SpearTip share a commitment to helping businesses anticipate and prevent cyber threats…
Resilience Bags $100 million D-Round from Venture Capital Funds; Reports All Its Clients Avoided Ransom Payments in 2022
The round adds to $225 million already raised by the company. The round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, with participation by Lightspeed Venture…
Converge Lands $15 Million A-Round from Forgepoint Capital
The march of cyber insurtechs continues. “Tom Kang has been appointed as CEO of Converge Insurance as part of the financing round, which closed last week. ‘Our mission is to…
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Demand Not A Constraint for Cyber Insurance Industry — Lack of Capital & Expertise Could Be: Gallagher Re
“’One of the things we hypothesized right from the start was that cyber is going to be the most capital-constrained and most expertise-constrained class of business in the market. And…
Nexus Completes Acquisition of Evolve Cyber Insurance as Industry Players Seek Scale
Nexus picks up app. 3,000 broking partners. “Nexus notes that this acquisition significantly expands both its cyber insurance capabilities and market reach. It’s hoped that Evolve’s strong distribution network and…
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ILS Growth In Cyber Likely to be Incremental and Not Transferred from Other Lines: Artex
Growth of the insurance-linked securities (ILS) asset class into cyber risks will likely not come from moving capital out of current lines: Artex Capital Solutions execs. “‘Do we think investors…
$190 million C-Round for Blackpoint Cyber; Company’s Services Include Integrated Tech/Cyber Insurance Product
The round was led by major industry investor Bain Capital Tech Opportunities and included Accel. They were joined existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP…
Hannover Re Joining Industry Movement Toward Cyber ILS and CAT Bonds
“Speaking with Artemis, Hannover Re senior executives Silke Sehm and Henning Ludolphs explained that tapping into the insurance-linked securities (ILS) market for cyber retrocessional reinsurance capacity is a priority and…
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CyberSmart Completes $15M B-Round; Provides Insurance/Security Platform for SMBs
“CyberSmart currently has 4,000 customers in the U.K., with 1,800 of them also taking the company’s insurance policies as well…” Management says the round was oversubscribed. Participants include European SaaS…
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