MS Amlin announced the purchase of a strategic stake in Envelop Risk, a global specialist reinsurance managing general agent (MGA), which combines insurance expertise with artificial intelligence-driven cyber risk modeling.
The investment sees MS Amlin take a minority strategic stake in the firm, further strengthening the strategic relationship between the two companies.
In addition to the equity stake, MS Amlin also announces that James Few, its global managing director of Reinsurance, has been appointed to the board of Envelop.
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. Underwriting commenced November 2018.
“Envelop Risk is a pioneer in the cyber insurance and reinsurance market and it is a real honor to be serving on the board,” commented Few. “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.”
Source: MS Amlin
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