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This publication revealed in April that Evercore had been retained to run a process for the cyber-focused MGA. -
The San Francisco-based InsurTech is targeting international expansion, with plans to write business in the UK and Continental Europe beginning in 2022.
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The broker warned that the risk of a systemic cyber loss “is beginning to feel more like an inevitability.”
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Patrick Tiernan’s comments come as many cyber players in Lloyd’s prepare to ask the Corporation for budget extensions in the face of hard-market conditions.
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Aon, Guy Carpenter and Lockton chiefs discussed competition between the Big Three brokers and start-ups, climate change and the war on talent.
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In a wide-ranging interview with this publication, the CEO also outlined how he would “reestablish the investment thesis” for the firm after missteps in 2020.
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Coletti takes the role previously held by Anthony Cordonnier, who recently joined reinsurance broker Guy Carpenter.
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Plus a look at reinsurers’ cat budgets and all the top news from the week.
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This current hard cycle in cyber is potentially a once-in-a-generation opportunity to engineer the product as fit for purpose.
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The recruit also spent time working for Liberty Specialty Markets in Germany.
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The Week in 90 Seconds: Cyber hardening; Lloyd’s modernisation; Ardonagh re-fi; business travel pollPlus the latest on pandemic BI payments and all the top news from the week.
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The specialty insurer has brought in the underwriter following the departure of Kristen Dauphinais at the end of May.
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