MS Amlin invests in cyber reinsurance MGA Envelop Risk

Leading international insurance and reinsurance firm MS Amlin, part of the MS&AD group, is investing in cyber reinsurance MGA Envelop Risk.

Envelop Risk launched a year ago with a mandate to provide data driven cyber risk analysis and reinsurance products.

The firm also sees an opportunity to tap into the capital markets and insurance-linked securities (ILS) market appetite for new perils, as a source of cyber reinsurance capacity.

MS Amlin said this morning that it is taking a stake in the specialist cyber reinsurance managing general agent (MGA).

The equity investment is a “minority strategic stake” which MS Amlin said would further strengthen the strategic relationship between it and Envelop Risk.

In addition to the investment, James Few, Global Managing Director of Reinsurance, will take a seat on the Envelop Risk board.

James Few commented on the news, “Envelop Risk is a pioneer in the cyber insurance and reinsurance market and it is a real honour to be serving on the board. The recent investment by MS Amlin demonstrates the commitment we have to the company and we are excited to see what this partnership can achieve.”

Jonathan Spry, CEO of Envelop added, “We welcome the investment and working relationship with MS Amlin, which will support the development and expansion of our business. The appointment of James to the board further aligns our strategic priorities with MS Amlin and his industry experience and insight will be invaluable. We are delighted to welcome him to the Envelop family.”

The two companies have already been working together on cyber reinsurance, covering non- proportional and proportional structures, with MS Amlin acting as the capacity provider since November 2018.

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