Ariel Re partners with CyberCube to tackle cyber reinsurance challenges

Reinsurance firm Ariel Re has selected the Portfolio Manager cyber risk analytics platform from CyberCube. The platform is a scenario-based data-driven offering designed to enable risk professionals to develop insights for their senior leadership and teams.

First launched in March 2018, it 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.

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. 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 at 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.”

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