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Athena Re approved as Lloyd’s Coverholder for cyber business
The Lloyd’s-backed setup will support a flagship cyber insurance binder, and Athena Re plans to expand into more product lines over coming months.
London-domiciled specialist insurance and reinsurance managing general agent Athena Re has received approval to serve as a Lloyd’s Coverholder, a milestone the firm said aligns with its long-term growth plan to bring highly rated global insurance capacity closer to high-growth emerging markets.
As a Lloyd’s Coverholder, Athena Re will operate a flagship cyber insurance binder backed by A+ rated Lloyd’s capacity, targeting specialist cyber risk needs of businesses and financial institutions across emerging markets, Reinsurance News reported.
The company expects to expand into additional product lines in the coming months and aims to position itself as a one-stop platform for specialized risk solutions in emerging markets, connecting local demand with global insurance and reinsurance capacity.
In remarks shared by Reinsurance News, Athena Re CEO Chrispin Onyancha said reaching Coverholder status in a short period is a significant milestone for the firm, which described the approval as part of a broader growth journey over the past nine months.