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CyberCube confirms its Portfolio Manager was used for first cyber cat bond


Cyber risk analytics and quantification software specialist CyberCube has now confirmed that its Portfolio Manager risk model was used for the landmark first catastrophe bond deal sponsored by re/insurer Beazley.

cybercube-logoThis confirms our story from earlier this week, where we explained that sources told us it was a CyberCube model that was used to get the first cyber cat bond to market.

Today, CyberCube said that it “acted as a modeling agent for the first private cyber cat bond to bring additional reinsurance capacity to the market.”

The risk modeller said that its Portfolio Manager software was used as part of the creation of the $45 million cyber insurance-linked securities (ILS) arrangement by Beazley.

Portfolio Manager is a scenario-based data-driven cyber risk modelling tool, allowing deep insights into cyber risk portfolios to be developed, as well as allowing for the stress testing of portfolios of insurance risk, ensuring that loss drivers and areas of accumulation risk can be identified.

Juan Marcano, Principal – Cyber Alternative Risk Transfer, stated, “CyberCube is delighted that Portfolio Manager has been chosen as one of the analytical models informing this exciting transaction.

“We are committed to continuing to develop innovative solutions to help support the cyber insurance industry moving forward.”

Also read:

Beazley secures $45m cyber cat bond with Fermat Capital a backer.

Beazley “proud” cat bond investors backed its “high quality” cyber underwriting: CEO.

Beazley’s cyber cat bond used Artex SAC vehicle & CyberCube model.

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