Ariel Re Selects CyberCube’s Portfolio Manager

March 15, 2022

Ariel Re has opted to use Portfolio Manager, “the market-leading cyber risk analytics platform from CyberCube.”

A spokesperson said, “Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has opted to use Portfolio Manager, the market-leading cyber risk analytics platform from CyberCube.

“CyberCube’s Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams. Portfolio Manager stress tests portfolios of insurance and reinsurance risks against a range of systemic cyber-related scenarios, including data breaches, cloud outages, global ransomware attacks and financial fraud.

“Originally launched in March 2018, it was the first fully probabilistic cyber catastrophe model to enable clients to drill down and identify loss drivers and areas of risk accumulation.”

Daniel Carr, Head of Cyber at Ariel Re, said, “Deeply analysing, quantifying and managing our exposure is critical to the success of our business and is at the heart of Ariel Re’s heritage – cyber is no different.

“I have been closely involved with the cyber and modelling industry over many years, and I have seen many solutions come to market claiming to solve a range of cyber modelling challenges. CyberCube’s Portfolio Manager is the most mature offering and is widely adopted by our cedant and partners alike. This alone improves our collective ability to communicate risk across a common framework, which we believe is key to the market’s ability to grow following a period of volatility and rapid rate movement.

“We are excited to partner with the team at CyberCube to not only manage our own exposure, but to also bring these capabilities to bear in the development of new reinsurance capital solutions for cyber risk – notably targeted at cyber catastrophe and systemic risk.”

Simon Shreeve, Principal Client Account Manager, CyberCube, said, “We’re delighted to be working closely with Ariel Re, to see how the business deploys our platform in the development of new products addressing some of the most challenging cyber reinsurance and capital issues facing the market today, especially systemic cyber risk.

“Combining the Ariel Re team’s unique knowledge and experience in both the cybersecurity and [re]insurance sectors with CyberCube’s expertise and platform, we believe we are creating a strong foundation to help Ariel Re innovate and deliver market-leading solutions to the industry.”

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