LONDON, 17 July, 2023: Insurance-linked securities (ILS) investment manager Fermat Capital Management, LLC, is to broaden its relationship with CyberCube by licensing CyberCube’s Industry Exposure Database (IED).
CyberCube launched the IED in October 2022 to enable (re)insurers and brokers to perform a wide array of benchmarking, sensitivity, and real-time analyses for cyber risks. The IED is designed to work seamlessly with Portfolio Manager, CyberCube’s software-as-a-service application built specifically for the insurance community. Fermat announced it would be utilizing Portfolio Manager in February 2022 to better understand cyber accumulation risks.
Andrew Lukas, CyberCube Principal Client Account Manager, said: "The continued commitment by the Fermat team to the cyber marketplace is critical as it brings needed additional capacity from capital markets. CyberCube’s Industry Exposure Database will enable Fermat to leverage comparative insights and benchmarking as it models industry risk for insurance-linked securities. We are excited to expand our partnership as Fermat enables growth in the complex cyber insurance landscape.”
Joanna Syroka, Fermat’s Director of New Markets, said: “CyberCube’s Industry Exposure Database (IED) helps us to better understand the size and shape of today’s cyber insurance market and the drivers of its systemic risk. We believe cyber ILS will be pivotal to the industry’s ability to efficiently manage this risk in the future. The powerful insights generated by CyberCube’s IED will be key to helping the cyber ILS market develop to play this role effectively.”
Founded in 2001 and based in Westport, Connecticut, Fermat provides investment services for its clients around the world, with over $10bn in assets under management.
About CyberCube
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 quantify cyber risk to facilitate 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. It is backed by Morgan Stanley Tactical Value, Forgepoint Capital, HSCM Bermuda, MTech Capital, individuals from Stone Point Capital and Scott G. Stephenson. For more information, please visit www.cybcube.com or email info@cybcube.com.
About Fermat
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 $10.9 billion in assets under management as of 31 May 2023, 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.
Contact:
Yvette Essen, Head of Content, Communications & Creative, CyberCube, yvettee@cybcube.com