Re/insurer MS Amlin, which has a presence on Bermuda, has purchased a strategic stake in Envelop Risk, a global specialist reinsurance MGA that combines insurance expertise with artificial intelligence-driven cyber risk modelling.
The investment will see MS Amlin take a minority equity stake in the firm to further strengthen its relationship with the London-based managing general agent.
In 2018, MS Amlin and Envelop commenced their cyber reinsurance partnership covering non-proportional and proportional structures, with MS Amlin acting as the capacity provider.
In addition to the investment, MS Amlin's global managing director of reinsurance, James Few, will take a seat in Envelop's board.
Few commented: “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, said: “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.”
MS Amlin, Investment, Cyber, Reinsurance, MGA, Bermuda, Specialist Reinsurance, AI