UK-based reinsurance and analytics company Envelop Risk has created a new division, Envelop Underwriting.
This new division will consolidate all of the company’s underwriting activities, including Envelop Risk Bermuda and Envelop at Lloyd’s, as well as the Envelop Risk SPA 1925.
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Dom Peters, who has been working in the industry for more than 27 years, will lead the new business unit as CEO.
Peters will report to Jonathan Spry, co-founder and group CEO of Envelop Risk.
He will be tasked with the management and governance of Envelop’s underwriting operations and will lead the underwriters in the new role.
His responsibilities include overseeing underwriting, portfolio management and capital functions.
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By GlobalDataIn the new role, he will also focus on further developing Envelop’s growth strategy and provide assistance with underwriting product development.
Peters said: “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.
“I am excited to lead this new division and look forward to working closely with Jonathan and the talented underwriting teams to realise that potential.”
Peters most recently worked at Dale Underwriting Partners (Syndicate 1729), where he was an underwriter since 2021.
Earlier, he had a stint at MS Amlin, where he managed a £1.3bn ($1.66bn) reinsurance book and served as a joint active underwriter for Syndicate 2001.
Commenting on Peters’ appointment, Spry said: “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.
“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.”
In September this year, Envelop Risk launched another division, Envelop Risk Solutions.
This unit is designed to enhance the cyber capabilities of insurers and reinsurers using the company’s Augmented Underwriting approach, which combines data enrichment, AI, and robust underwriting and capital management strategies.
