Asset manager Stone Ridge entered into $100m deal with Hannover Reinsurance relating to cyber insurance exposure. “In the statement, Ross Stevens, CEO of Stone Ridge, said the company expects higher than average investment returns from cyber insurance investments and low correlation with other investment risks.
‘We intend to meaningfully grow our cyber exposure throughout 2023 and beyond,’ he said.”
This follows news of a Beazley cat bond focused on cyber.
Hannover Reinsurance SE said Thursday it has purchased $100 million in retrocessional reinsurance coverage for cyber exposures through a proportional reinsurance treaty with a capital markets provider.
Source: Hannover Re taps capital markets for cyber coverage – Business Insurance