Optimum Speciality Risks (OSR), a leading Cyber MGA, today announces its new strategic partnership with Canopius, a global specialty (re)insurer, to further expand its capabilities in the UK market

The partnership will see Canopius providing capacity for OSR to offer to brokers on a delegated basis and comes as both businesses look to help clients tackle the increasing cyber threat facing them in the UK. It is a direct response to customer and broker demand for appropriate, bespoke cyber insurance policies.

As a result of this agreement, Canopius enables OSR to service larger enterprises with revenues of up to 250 million GBP.

OSR’s Founder & Chief Executive, Sean Yeo, had this to say about the new partnership agreement:

“We are thrilled that OSR is taking this exciting step forward with Canopius, forging a great partnership by strengthening our capacity and extending our underwriting footprint. This achievement is a testament to the trust of our partners and our shared vision for delivering robust, forward-thinking solutions. Together, we are expanding the boundaries of what’s possible in cyber insurance, ensuring our clients are protected against the risks of today and prepared for the challenges of tomorrow.”

Chris Getty, Cyber & Technology Underwriter at Canopius, added:

“The cyber threat facing businesses is ever-increasing. Our mission is to not only limit the damage but also futureproof businesses and prevent attacks from happening in the first place. Our dedicated incident management team will be available 24/7 to OSR clients through their policy, elevating their protection against malicious actors. With advanced in-house analytics and a dedicated claims management team to match, we’re confident that we are the perfect partner to help OSR build on the significant progress it has already made. We look forward to seeing the results we know the partnership will deliver for the good of all.”

The two companies are entering the new year on a high note and expect 2025 to set another high-water mark for cyber insurance in the UK market.

OSR is one of the UK’s leading providers of cyber insurance policies. They have pioneered a new approach to cost effective cyber risk management, which includes a suite of both broker and end customer education solutions.

They have also forged technical partnerships with some of the biggest names in the industry, so that brokers and clients have access to cyber security resources such as a free consult from GDPR Certify, and access to multiple industry resources via the OSR Breach Defence Portal.

Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, Singapore, the UK and US. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer.

For more information, visit www.canopius.com or https://uk.linkedin.com/company/canopius