InsurTech Corvus Insurance announced today that it has acquired Tarian Underwriting Limited from Beat Capital Partners Ltd. for an undisclosed amount.

Formed in 2016, Tarian is a specialist underwriter of cyber and technology errors and omissions insurance products. Tarian’s underwriters have been granted authority by Beat Syndicate 4242, which allows them to write on behalf of a consortium of Lloyd’s syndicates as Syndicate underwriters.

According to Corvus, a provider of smart commercial insurance products powered by AI-driven risk data, the deal makes Corvus the first cyber InsurTech to acquire a London underwriting platform, instantly providing global underwriting capabilities and access to Lloyd’s cyber insurance capacity.

Tarian will be rebranded as Corvus Underwriting Limited, Corvus said in a media statement.

“By bringing Tarian into the Corvus fold, we are expanding our international footprint into Europe, Africa and Australia with an experienced and proven team of underwriters,” said Phil Edmundson, founder and chief executive officer of Corvus Insurance. “Tarian has expanded its capacity for 2022, which is a testament to its underwriting discipline and strategy. We are thrilled to continue this growth and to bring the entire Tarian team on board, as they share our mission to make the world a safer place,” he stated.

Geoff Pryor-White, CEO of Tarian, noted that Tarian was founded “as a group with extensive market experience that saw an opportunity to set up a customer-centric company that was focused on entrepreneurial and tailored solutions to improve the standard of cyber and technology insurance risk,” adding that Corvus provides the group with greater access to data-driven insurance technologies.

In 2021, Corvus announced $115 million in Series C funding, the August acquisition of Wingman Insurance (a tech platform for admitted cyber and tech E&O), and the September release of a Risk Aggregation Platform, which provides risk capital partners a real-time view of net exposure with breakdowns of the Corvus book by metrics like industry, revenue, and location as well as cybersecurity metrics including web hosting, email security, SaaS, and other technologies. Corvus also worked to double headcount with hires including new C-suite executives such as former Zurich cyber product lead Lori Bailey, who joined Corvus as chief insurance officer in June, and former AIG chief underwriting officer and Archipelago co-founder Madhu Tadikonda, who joined Corvus as president in September.

Source: Corvus Insurance