cyber risk

Beazley, the London headquartered specialty insurance and reinsurance company, have successfully priced the PoleStar Re Ltd. (Series 2026-1) issuance to become the biggest cyber catastrophe bond so far, as the new deal will now provide the company $300 million of reinsurance protection, Artemis has learned.

Parametrix, a specialist in parametric cloud downtime cyber risk transfer, has confirmed that it has already paid claims to clients that were impacted by the Amazon Web Services (AWS) outage on October 20, 2025.

Beazley, the London headquartered specialty insurance and reinsurance company, is aiming to upsize on the amount of reinsurance its latest 144A cyber catastrophe bond provides it, with the PoleStar Re Ltd. (Series 2026-1) issuance now targeted at $280 million, Artemis understands from sources.

Beazley, the London headquartered specialty insurance and reinsurance company, is back in the 144A catastrophe bond market to sponsor a new cyber cat bond deal, seeking $200 million or more in excess-of-loss protection from a PoleStar Re Ltd. (Series 2026-1) issuance.

This week’s Amazon Web Services (AWS) outage may have cost billions in lost opportunity and downtime for technology and internet services around the world and could trigger some cyber insurance policies, but it was not significant enough to be considered a Catastrophic Event, Parametrix has told us.

CyberCube, a specialist modelling firm for cyber risks and exposures that has also been the third-party modelling agent for a number of the cyber catastrophe bonds that have been issued so far, has announced a significant more than $180 million investment in the company to support its long-term growth ambitions.

While 2025 has been quiet so far in the 144A cyber catastrophe bond market, interest in this risk class continues to rise and Brittany Baker, VP of Solution Consulting at CyberCube told us that investors are increasingly working the peril into their investment and fund mandates to be ready when the next issuance comes.

Beazley’s Group Chief Underwriting Officer Paul Bantick explained this morning how the company has prepared itself to respond to the evolving cyber threat landscape, laying out the importance of its reinsurance and cyber insurance-linked securities (ILS) protection, while also providing an insight into its exposure to recent events.

CyberCube, a specialist modelling firm for cyber risks and exposures, has launched Portfolio Manager Version 6 (PMv6), the latest version of the organisation’s catastrophe model that empowers portfolio-level insights.

Reinsurance broker Guy Carpenter has announced the hire of former Moody’s Insurance Solutions cyber risk modelling and analytics specialist Damini Mago, as its new North American Head of Cyber ILS.