Specialty MGA Corvus Insurance has announced its expansion in continental Europe by opening a new office in Frankfurt, Germany.

Through the outpost, US-based Corvus hope to gain more flexibility to expand its international operations and capabilities via new markets.

Corvus offers commercial insurance products backed by AI-driven risk data.

The German office will underwrite cyber insurance policies for both small and medium sized businesses (SMBs) and larger corporations.

Other than product development, Corvus aims to increase its team size by hiring new talent, which will include offering positions for ‘Werkstudenten’ from universities to provide graduates with potential opportunities to build their carrier.

Corvus Insurance international head Oliver Delvos said: “Frankfurt is located within the largest insurance market on the continent and the city has always been an international business hub across industries.

“We will be able to spread our wings and develop our business with a true European focus.”

Corvus Insurance chief insurance officer Lori Bailey said: “Cyber by its very nature is a global risk, and by expanding our operations into Europe, this will create new opportunities for our team to help even more policyholders and support our foundational mission of making the world a safer place.”

The expansion comes close on the heels of a partnership with re/insurer SiriusPoint and R&Q Accredited.