Growing cyber insurers look to ILS market for catastrophe loss protection

cybersecurity

Issuance of cyber catastrophe bonds took off in Q4 of 2023, with four carriers securing more than $400m of coverage – more than five times what the capital markets had provided prior to the quarter.

It comes as insurers look to protect themselves against the risk of systemic cyber losses while still growing their cyber books.

Prior to the four end-of-year issuances – one of which came in November

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Big Interview: Swiss Re CEO Jason Richards

Jason Richards, CEO of Swiss Re in the UK and Ireland, on why having colleagues back in the office is essential for the insurance ecosystem, and why carriers needs to shout about what the industry does to attract fresh talent.

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