Cyber risk modeling firm DeNexus has bolstered its re/insurance proposition with the recruitment of insurance-linked securities (ILS) expert George Mawdsley (pictured) as new head of risk solutions.
Mawdsley joins DeNexus after a decade at Securis Investment Partners, where he was involved in the structuring and origination of ILS risk. According to his LinkedIn, his prior experience includes a role as Lloyd’s Special Risks Underwriter at Hiscox in London.
In his new role, Mawdsley will focus on developing advanced risk transfer solutions for the cyber insurance and ILS markets, utilizing DeNexus’ cyber risk platform DeRISK. Mawdsley will report to Jose Seara, founder and CEO of DeNexus.
“George will be an asset to the DeNexus team and strategically critical in our mission to build the global standard of industrial cyber risk quantification for agencies, shareholders, investors, boards, and risk transfer market. I firmly believe that insurance is a mandatory tool for the proper management of cyber risk, and developing the secondary market and attracting alternative capital is a must for efficient cyber risk transfer solutions to develop, and for the market to scale to its full potential,” Seara said.
Seara also noted that Mawdsley’s expertise in the ILS sector would enhance DeNexus’ capacity to understand and navigate the unique challenges of securitizing cyber risk. This appointment is seen as a step towards creating innovative, purpose-built ILS solutions.
“I had no hesitation in joining this stellar team,” Mawdsley said. “They have a superior cyber risk quantification and management product, and exciting ambitions to support a cyber ILS market. I am excited to work side-by-side with DeNexus to effectively connect cyber risk with alternative capital and really make an impact on the cyber insurance market.”
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