The expanded partnership, which will see R&Q Accredited continue to serve as the fronting insurer, comes after the initial investment and multi-year underwriting capacity agreement announced in September last year.
SiriusPoint and R&Q Accredited’s latest multi-year investment in Corvus adds $100m to the programme and is expected to allow it to build upon its Smart Cyber Insurance offerings and target policyholders across geographies.
Corvus Insurance founder and CEO Phil Edmundson said: “Our expanded partnership with SiriusPoint and R&Q Accredited will help Corvus reach new heights.
“Our digital platform, the CrowBar, and the data and AI tools used by Corvus are producing superior loss ratios for our partners. Together we are building a win-win-win for our brokers, policyholders, and risk capital partners.”
SiriusPoint global head of property & casualty, insurance & services Patrick Charles said: “We have continued to be impressed with Corvus’s agility in responding to the evolving cyber risks its clients face, and the innovative and disciplined approach it applies to risk mitigation.”
R&Q Accredited America chief underwriting officer of casualty Dawn Puro said: “Their data- and tech-driven approach to cyber liability has already helped drive strong growth, and we are delighted to strengthen our partnership as Phil and his team continue to evolve and expand the Corvus offering.”
Last March, Corvus Insurance raised $100m in Series C funding at a $750m valuation.