Global insurance broker Willis, a WTW business, has announced an expansion of its cyber risk facility, CyXS, raising its available capacity to USD/GBP/EUR115 million through Lloyd’s syndicates, along with an additional USD/GBP/EUR40 million from sources outside the Lloyd’s market.
The expansion includes the introduction of two new segments: CyXS Plus and CyXS Company. According to a news release, each adds USD/GBP/EUR40 million in coverage capacity.
CyXS Company, in particular, enables participation from non-Lloyd’s capital sources, while maintaining central underwriting oversight. According to Willis, this structure makes CyXS Company the largest cyber insurance facility of its kind outside the Lloyd’s market.
The new offerings bring the total number of insurers supporting the CyXS platform to 25.
“CyXS has been a great success with our clients across the globe, as it has and continues to be focused on serving their needs and increasing demand for innovation that truly address their needs,” said Peter Foster, global cyber chairman at Willis.
Simon Delchar, global head of placement at Willis, added that the expansion reflects growing collaboration within the London cyber market. “CyXS Plus and CyXS Company bring the number of insurers supporting CyXS to 25, showing fantastic commitment from the London cyber market to deliver better outcomes for our clients around the globe,” he said.
This builds on WTW’s focus to expand its cyber offerings, as demonstrated by the January 2025 launch of CyCore Asia, a new cyber insurance facility targeting businesses in Singapore and Hong Kong. CyCore Asia offers primary insurance capacity of up to $15 million and aims to address growing cybersecurity concerns in the Asian market, including a risk bursary for cyber risk management services.
The development comes as demand for cyber risk solutions continues to grow, driven by the rise in cyberattacks and the increasing complexity of digital threats faced by organizations worldwide. Global cybercrime has been projected to reach $10.5 trillion annually.
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