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Envelop Risk’s Capital Markets business continues to gain traction and the firm is close to deploying capital markets capacity via its Augmented Re Class 3A Reinsurer, says Co-Founder and Chief Executive Officer (CEO), Jonathan Spry.
Cyber re/insurance underwriting firm, Envelop Risk, launched its Capital Markets business in 2022, naming insurance-linked securities (ILS) specialist, David Ross, as its head.
The practice was established to not just underwrite transactions but to also structure and underwrite transactions on behalf of ILS funds.
More than a year after its inception, Artemis spoke with the company’s CEO about its progress and the broader cyber-ILS space.
“It’s been very, very busy,” said Spry. “We are close to deploying capital markets capacity which we expect to have in use in 2024.”
He explained that Envelop Risk invests time with ILS funds and the broader capital markets, in order to figure out what makes sense and what they feel comfortable with, in terms of new ILS products.
The involvement of ILS funds and capital markets has been a hot topic for a while and are seen as…