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Beazley partners with Integral ILS to launch Bermuda cyber ILS fund

Integral ILS, the portfolio and investment manager for the planned Bermuda cyber ILS fund, manages more than US$3.5 billion in third party investor capital.

Reported · Written up by our desk · Industry & Deals

Beazley, the London headquartered specialty insurance and reinsurance company, has partnered with insurance-linked securities manager Integral ILS Ltd. to set up a cyber ILS fund operation in Bermuda, Artemis reports. The partnership advances Beazley’s plan to expand into cyber insurance-linked securities through securitisation and third party risk transformation, with a dedicated cyber ILS fund planned for later this year.

Under the deal, Integral ILS will serve as the portfolio and investment manager for the cyber ILS fund in development. Beazley will be the originator and source of the underwritten risk, drawing from its global cyber book.

Integral ILS was launched in 2020 by ILS market executives Richard Lowther and Lixin Zeng and has since expanded to manage over US$3.5 billion in third party investor capital as of this year. Natural catastrophe risk has been its main focus, and the partnership represents Integral ILS’s first confirmed move into a specialty line of reinsurance-focused risk strategy.

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