Envelop Risk, the reinsurance managing general agent and analytics specialist, announced the launch of Envelop Underwriting, which will encompass all existing cyber underwriting activities: Envelop Risk Bermuda and Envelop at Lloyd’s, including the Envelop Risk SPA 1925.

Dom Peters has agreed to join to lead the newly established division as its chief executive officer, reporting to co-founder and group CEO Jonathan Spry.

Peters will oversee the management and governance functions of Envelop’s underwriting activities and underwriters, with all underwriting, portfolio management and capital functions reporting to him. He will also further develop Envelop’s growth strategy and assist with underwriting product development.

Peters brings more than 27 years of industry experience to Envelop, joining from Dale Underwriting Partners (Syndicate 1729) where he was active underwriter since 2021. During his tenure, all classes were removed from remediation and generated the largest profit in the syndicate’s history.

Prior to this, Peters was chief underwriting officer of MS Amlin’s global reinsurance business unit and was integral in managing a £1.3 billion book of business. He was joint active underwriter for Syndicate 2001 from 2014 to 2017 and before that served as MS Amlin’s deputy head of reinsurance in London, where he managed the international property treaty and specialty XL portfolio.

“Envelop Underwriting unifies all our underwriting operations under one strategic framework, which will enhance our underwriting focus and help accelerate Envelop’s growth into new markets,” commented Spry in a statement.

“I am delighted to welcome Dom to lead the new division, whose proven expertise and senior international experience will further strengthen our ability to support the sustainable growth of the cyber insurance market globally,” Spry added.

“Aligning the underwriting activities of Envelop under a single unit creates huge potential for the business and its significance as a supporter of the fast-developing global cyber market,” said Peters. “I am excited to lead this new division and look forward to working closely with Jonathan and the talented underwriting teams to realise that potential.”

Envelop Risk was founded in 2016 to transform how the reinsurance industry quantifies and manages cyber risk. The InsurTech is headquartered in Bristol, UK, and with offices in London, Bermuda, and San Francisco.

Source: Envelop Risk