Global reinsurance broker Lockton Re has made a strategic addition to its team, appointing cyber specialist Jemima Hopper from rival Guy Carpenter. The move significantly bolsters Lockton’s capabilities in the fast-growing cyber reinsurance market.
Hopper brings nearly a decade of experience placing complex cyber risks in the London and international markets. At Lockton Re, she will lead cyber reinsurance solutions for:
- Insurers needing catastrophe protection
- Managing general agents expanding cyber programs
- InsurTechs developing new products
“Cyber threats evolve faster than any risk we’ve seen,” said a Lockton Re executive. “Jemima’s technical knowledge helps clients stay ahead.” The hiring addresses several market needs:
- Rising demand from primary insurers seeking reinsurance backstops
- More sophisticated cyber risk modeling requirements
- Growing interest in alternative capital solutions
Hopper’s appointment comes as the global cyber reinsurance market is projected to exceed $15 billion by 2025. At Guy Carpenter, she structured innovative covers including:
- Parametric cyber catastrophe bonds
- Silent cyber risk transfer solutions
- State-backed cyber pool arrangements
“Insurers need reinsurance partners who understand both technology and underwriting,” Hopper noted. Her move follows several high-profile cyber attacks that exposed coverage gaps in traditional policies.
Lockton Re has been expanding its specialty reinsurance capabilities, with cyber representing one of its fastest-growing segments. The broker estimates cyber reinsurance premiums could triple by 2027 as ransomware threats and cloud vulnerabilities multiply.
Industry sources suggest the hire positions Lockton Re to capture more of the lucrative cyber reinsurance market, particularly for:
- Insurers facing accumulation risks from cloud outages
- Governments developing national cyber backstops
- Companies requiring bespoke captive solutions
For insurance buyers, the increased expertise at major brokers like Lockton Re helps ensure cyber coverage keeps pace with digital threats. Hopper’s appointment reflects how cyber risk has become too big for any single insurer to handle alone.
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