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Glyn Thoms will be stepping into a newly formed role with a focus on cyber strategy formulation and management. -
The appointment is the latest in a string of hires in the broker’s marine operation.
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Despite potential claims stretching into the billions, the events are not expected to shift the dial on pricing.
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Current head of specialty Paul Upton will move to become chairman of the division.
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Envelop Risk Solutions will provide technical assistance and advisory services.
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Sources said that for reinsurers to meet this demand, they will need to get comfortable analysing and evaluating systemic and aggregate risk.
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Improved profitability has led some insurers to increase their own retentions.
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Coalition Re to offer active cyber reinsurance via two products supported by Aspen-led capacity.
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The business is formed out of the existing Thomas Miller Specialty Offshore team.
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Pine Walk MGA Kersey Specialty pivoted to renewables at the start of this year.
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A whitepaper published by the two companies set out measures that could create cyber insurance capacity.
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The change comes as negotiations start to kick off for 2025 renewals.
