MS Amlin invests in global specialist reinsurance MGA Envelop Risk
MS Amlin today announced the purchase of a strategic stake in Envelop Risk. Envelop Risk is a global specialist reinsurance MGA, which combines insurance expertise with artificial intelligence-driven cyber risk modelling.
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.
James Few, Global Managing Director of Reinsurance at MS Amlin, commented, “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, CEO of Envelop commented, “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.”
For further information, contact:
Global PR & Media Lead
Ngozi Emeagi
Tel: +44 (0) 207 746 1097
Ngozi.Emeagi@msamlin.com
About MS Amlin
MS Amlin is a leading insurer and reinsurer, part of the global top-10 insurance group MS&AD, with operations in the Lloyd’s, UK, Continental European and Bermudian markets. With a 300-year record and more than 2,100 people in 26 locations worldwide, we deliver continuity for businesses facing the most complex and demanding risks. Our role places us at the forefront of the Property & Casualty, Marine & Aviation and Reinsurance markets.
We are experts in underwriting, with both technical capability and deep knowledge of the areas we insure. Our claims service aims to set the industry reference point for quality, with efficient, fair and timely claims management.
About Envelop Risk
Envelop Risk is a global specialist reinsurance MGA headquartered in London, with offices in Bristol and Bermuda. Envelop Risk provides delegated (re)insurance underwriting, and partners with cyber security firms for custom insurance products. Envelop’s mission is to develop, underwrite, and distribute innovative insurance and reinsurance products that provide genuine coverage, and superior risk transfer. Envelop’s underwriting and product development capabilities are enabled by a core artificial intelligence model, and augmented intelligence frameworks. For more information visit www.enveloprisk.com or @enveloprisk.
