London-based cyber broker get investment from Cullum-backed MBP

Peter Cullum-backed Minority Broker Partnerships (MBP) has acquired a strategic investment in London-based Cyber Cover.

Cyber Cover is a specialist cyber and technology insurance broker and digital distribution platform. The platform provides direct, broker and white-label partner distribution options.

The investment will enable Cyber Cover to further scale its technology, enhance underwriting capability and expand its distribution footprint.

Vincent Kenneth, founder at Cyber Cover, said: “We are delighted to welcome MBP into the Cyber Cover journey. Cullum and the MBP team bring decades of insurance leadership, distribution expertise and experience in scaling high-growth businesses.

“Their support comes at a pivotal moment as the UK and global cyber markets evolve at pace.

“This partnership will help us accelerate our technology roadmap, broaden our insurer API connections and deliver an even more frictionless cyber buying experience for our customers and broker partners.”

‘Delighted to invest’

MBP typically invests a minority stake in retail insurance brokers, which enables owners to release some capital but stay in control of their business.

James McCaffrey, chief executive at MBP, said: “As each day passes, the demand for cyber insurance continues to grow. We are therefore delighted to invest in Cyber Cover, a market-leading specialist in its field.

”We have been hugely impressed by the business – from the quality of the people and the insurer panel to the strength of the digital platform itself. It is genuinely cutting-edge technology.

”Cullum and I very much look forward to working with Kenneth and the wider team to help Cyber Cover continue its strong growth trajectory and move quickly into the next stage of its exciting journey.”