MS Amlin has been a capacity provider for the MGA
MS Amlin has purchased a stake in cyber MGA Envelop Risk.
London-based Envelop has offices in Bristol and Bermuda and is a cyber underwriting specialist. It uses artificial intelligence for its cyber risk modelling and is also a global specialist reinsurance MGA.
The firms had an existing relationship before the deal – in 2018 MS Amlin and Envelop began a cyber reinsurance partnership covering non-proportional and proportional structures, with MS Amlin acting as the capacity provider. Underwriting commenced in November 2018.
In addition to the equity stake, MS Amlin has also announced that James Few, its global managing director of reinsurance, has been appointed to the board of Envelop.
Few said: “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, chief executive of Envelop added: “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.”
Subscribers read more