Envelop Risk, a data-driven reinsurance and analytics firm, has announced the launch of Envelop Underwriting, a new division that consolidates all of the company’s existing underwriting activities, including operations in Bermuda, at Lloyd’s, and the Envelop Risk SPA 1925. The newly formed division will be led by Dom Peters (pictured), who steps in as chief executive officer.
Peters joins Envelop Underwriting with over 27 years of experience in the reinsurance industry. Previously active underwriter at Dale Underwriting Partners, Peters was instrumental in the syndicate’s record profitability, leading the underwriting strategy that saw all classes removed from remediation, according to a news release. His background includes leadership roles such as chief underwriting officer for MS Amlin’s global reinsurance business, where he managed a £1.3 billion portfolio and jointly served as active underwriter for Syndicate 2001 from 2014 to 2017. Peters will now report directly to Jonathan Spry, Envelop’s co-founder and group CEO.
In his new role, Peters will oversee Envelop’s underwriting activities, focusing on the management and governance functions of its portfolio while driving growth initiatives and product development.
“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,” Spry said 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.”
Peters expressed enthusiasm for his new position. “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,” he said.
Founded in 2016, Envelop Risk focuses on using data analytics and intelligence-driven methods to address cyber risk in the reinsurance sector. Headquartered in Bristol, UK, the company also has offices in London, Bermuda, and San Francisco, and is among the largest cyber reinsurance firms worldwide by underwritten income.
Do you have something to say about the recent announcement? Leave a comment below.
