Hamilton, Bermuda, March 14, 2022 — Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has opted to use Portfolio Manager, the market-leading cyber risk analytics platform from CyberCube.
CyberCube’s Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams.
Portfolio Manager stress tests portfolios of insurance and reinsurance risks against a range of systemic cyber-related scenarios, including data breaches, cloud outages, global ransomware attacks and financial fraud. Originally launched in March 2018, it was the first fully probabilistic cyber catastrophe model to enable clients to drill down and identify loss drivers and areas of risk accumulation.
Daniel Carr, Head of Cyber at Ariel Re, said: “Deeply analysing, quantifying and managing our exposure is critical to the success of our business and is at the heart of Ariel Re’s heritage – cyber is no different.
“I have been closely involved with the cyber and modelling industry over many years, and I have seen many solutions come to market claiming to solve a range of cyber modelling challenges. CyberCube’s Portfolio Manager is the most mature offering and is widely adopted by our cedant and partners alike. This alone improves our collective ability to communicate risk across a common framework, which we believe is key to the market’s ability to grow following a period of volatility and rapid rate movement.
“We are excited to partner with the team at CyberCube to not only manage our own exposure, but to also bring these capabilities to bear in the development of new reinsurance capital solutions for cyber risk – notably targeted at cyber catastrophe and systemic risk.”
Simon Shreeve, Principal Client Account Manager, CyberCube, said: “We’re delighted to be working closely with Ariel Re, to see how the business deploys our platform in the development of new products addressing some of the most challenging cyber reinsurance and capital issues facing the market today, especially systemic cyber risk.
“Combining the Ariel Re team’s unique knowledge and experience in both the cybersecurity and (re)insurance sectors with CyberCube’s expertise and platform, we believe we are creating a strong foundation to help Ariel Re innovate and deliver market-leading solutions to the industry.”
About Ariel Re:
Ariel Re offers a broad range of innovative insurance and reinsurance solutions and services through our offices in Bermuda, London and Hong Kong. Ariel Re are a focused, specialty reinsurance underwriting company meeting the business needs of a diverse client base. Ariel Re operates principally through Syndicate 1910 in London and also offers access to Lloyd’s Europe via Syndicate 5336.
Originally founded in 2005, Ariel Re was acquired by Pelican Ventures and J.C. Flowers in November 2020. The new owners provide Ariel Re with significant capital resources and a long track record of supporting successful, entrepreneurial businesses in the (re)insurance industry.
CyberCube delivers the world’s leading analytics to quantify cyber risk for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure.
The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital.
For more information, please visit www.cybcube.com or email email@example.com.
Stephen Breen, Rein4ce
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