Toa Re has licenced CyberCube’s portfolio manager platform to support its cyber book. This will help it “achieve best risk management practices.”
Toa Re Europe is a Swiss-licensed reinsurance company and a wholly-owned subsidiary of the Japanese reinsurer, Toa Reinsurance Company.
Toa Re Europe’s core focus is on non-life treaty reinsurance business. It will utilise CyberCube’s portfolio manager to enable data-driven risk transfer solutions.
The cyber risk modelling platform allows for stress testing of portfolios against a range of systemic cyber-related scenarios including data breaches, cloud outages and global ransomware attacks, among others.
Commenting on the mandate, Philippe Regazzoni, Toa Re Europe CEO, says: “Cyber is one of the most strategic business lines for a professional reinsurer and will become a core placement for most of our clients across EMEA.
“The development of risk and portfolio management capabilities is crucial for our ability to offer adequate cyber treaty capacity to our clients. The cooperation with CyberCube is a key step in the development of the required capabilities.”
