San Francisco, California, 7 February 2022 -
Fermat Capital Management, LLC, one of the world’s largest insurance-linked securities (ILS) investment managers, has licensed CyberCube’s Portfolio Manager. This marks the first time that a business that is neither a risk carrier nor an insurance intermediary has partnered with CyberCube.
Portfolio Manager is a software-as-a-service application CyberCube has built specifically for the insurance community. It provides risk carriers with a streamlined approach to financially stress test portfolios of risks against a range of cyber-related scenarios such as ransomware attacks and cloud outages. Fermat‘s use of the product signals the growing relevance of cyber risk to businesses and markets beyond insurance.
Portfolio Manager is used to analyse portfolios of cyber risk against a range of modeled cyber risk threats. It is a scenario-based data-driven model that enables organisations to analyse and communicate key messages on cyber exposures to both their senior leadership and their working teams.
Sean Omar, Sales Manager for CyberCube, said: “This partnership with Fermat breaks new ground for CyberCube. It demonstrates the growing relevance of cyber risk and an increasing focus on cyber risk accumulation. Understanding and quantifying these cyber exposures will be a prerequisite to tapping the ILS and capital markets for cyber risks. Fermat is a market leader in the ILS field and clearly grasps the increasing significance of cyber risks and the potential for growth in the ILS asset class.”
Founded in 2001 and based in Westport, Connecticut, Fermat provides investment services for its clients around the world, with over $8.5bn in assets under management.
Joanna Syroka, Senior Underwriter and Director of New Markets for Fermat, said: “We’ve been extremely impressed with CyberCube’s offering and the deep cyber risk insights that its products generate. Cyber is primed to become a peak peril for (re)insurers, creating a strategic opportunity for ILS to reduce stress on (re)insurance balance sheets. Developing a consensus view on cyber accumulation risk via a market-leading risk model will be a critical component of a future, scalable ILS cyber market for investors. We look forward to using Portfolio Manager to better understand cyber accumulation risks and are excited to partner with CyberCube as the cyber ILS market develops.”
Portfolio Manager complements CyberCube’s two other products: Broking Manager and Account Manager, which are designed for insurance intermediaries and risk carriers and are used by leading companies across the insurance ecosystem.
CyberCube delivers the world’s leading cyber risk analytics 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 firstname.lastname@example.org.
About Fermat Capital Management, LLC
Founded in 2001, Fermat Capital Management, LLC, seeks alternative fixed income returns by focusing on new asset classes that offer potentially attractive risk premiums. With $8.5 billion in assets under management, Fermat provides investment management services for clients – including pension funds, sovereign wealth funds, endowments, charitable and philanthropic foundations, insurers, family offices, and private investors – from around the world. The Fermat team has deep expertise in insurance, banking, and capital markets and Fermat has served as an advisor to government bodies and national regulators. Fermat currently manages portfolios in two strategies: insurance-linked securities and trade finance.
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