MAPFRE RE, the reinsurer of MAPFRE Group, is to license CyberCube’s solutions under a three-year agreement with the cyber risk analytics specialist.
The licensed tools include CyberCube’s cyber accumulation solution.
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This move is aimed at enhancing MAPFRE RE’s position in the cyber insurance market and meeting the demand for such coverage.
CyberCube principal alternative risk transfer Juan Marcano said: “MAPFRE RE chose CyberCube due to our knowledge, experience and unparalleled cyber expertise that positioned us as the ideal partner for its accumulation management objectives. Our comprehensive suite of solutions and services were aligned with MAPFRE RE needs. We are delighted to support its ambitious plans for growth and innovation in the cyber insurance space. “
MAPFRE RE head of cyber Oscar Taboada said: “At MAPFRE RE, we are committed to equipping ourselves with the most updated tools and solutions to address the evolving challenges of cyber risk. CyberCube’s solutions will enhance our ability to manage cyber accumulations effectively and expand our footprint in different markets. We are excited to embark on this long-term partnership and look forward to mutual success.”
Last month, MAPFRE RE restructured its non-group business operations into the non-life underwriting and life business lines.
The company’s global presence is managed through four regional divisions – Iberia/Latam, APAC, EMEA and North America.
MAPFRE RE has named Javier San Basilio as general manager to coordinate with the regional divisions and develop relationships with key clients and brokers.
