PGD Strategy

Specialist Corporate Finance and Strategy Consultants

“PGD Strategy originated and helped us complete our first strategic acquisition for Thistle, our insurance distribution platform.”

Dominic Burke, Former CEO, Jardine Lloyd Thomson Group plc and Former Vice-Chairman, Marsh & Mclennan Cos Inc.

“PGD Strategy was instrumental in bringing out a shared vision which helped us to progress the development of our group.”

Richard Tee, CEO, Avantis Group

“PGD Strategy’s strategic insights and extensive networks enabled us to develop new partnerships and distribution capabilities.”

Rob Isaacs, CEO, Union Income Benefit Holdings Ltd

“Peter Droussiotis’s analytical and disciplined approach to corporate finance has been a hallmark of PGD Strategy’s success.”

Mark Hvidsten, Vice-Chairman, Willis Re Inc.

“Peter Droussiotis understands 'people’, he quickly identifies their needs and brings benefit to all, that's Peter.”

Robby Sukhdeo BEM, Founder and Owner, Pavilion Sports and Cafe

“PGD Strategy has a wealth of knowledge and a huge diversity of connections in the Lloyd’s and international insurance markets.”

Marc van der Veer, CEO European Ventures, Nexus Group

“Peter Droussiotis is an accomplished and results-oriented M & A advisor and transactional project manager.”

Bronek Masojada, Former CEO, Hiscox Group

“PGD Strategy provided excellent value for money in helping us promote and negotiate the sale of our business.”

Nigel Hucknall, formerly CEO & principal shareholder, Brooks Braithwaite (Sussex) Ltd

“PGD Strategy’s excellent strategic advice and transaction execution capabilities are equalled by the integrity of its team.”

Nick Heys, CEO, Artex Risk Solutions (International)

“PGD Strategy possesses deep knowledge of the insurance industry and of the key drivers that are essential for successful deal-making.”

James Gerry, Chairman, GB Underwriting and Chairman, MX Underwriting

corvusinsurance logo tarian logo beatcapital logo

PGD Strategy originated the opportunity, following an in-depth market review, and acted as corporate finance advisor to Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data, in relation to its strategic acquisition of Tarian, a leading cyber underwriting platform that provides market-leading solutions to an ever-changing cyber risk environment and underwrites on behalf of a consortium of Lloyd's syndicates.

The deal cements Corvus as the world's leading Cyber InsurTech underwriter.

The transaction announcement follows below:

Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data has announced that it has acquired Tarian Underwriting Limited from Beat Capital Partners Ltd. Tarian is the leading cyber underwriting platform providing market-leading solutions to an ever-changing cyber risk environment and underwrites on behalf of a consortium of Lloyd's syndicates.

Based in London, Tarian's international footprint covers the UK, US, Middle East, Canada, and Australia. With this deal, Corvus has become 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 is now the world's leading Cyber InsurTech. 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 CEO 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."

Growing the Corvus Team Globally

The team at Tarian has been creating tailored solutions for cyber and technology insurance risks since 2016. Capitalizing on Tarian's wide international footprint, Corvus is unlocking a new strategic opportunity for expansion and entering the international market to underwrite cyber insurance policies globally.

"We founded Tarian 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," said Geoff Pryor-White, CEO of Tarian. "Now as a part of Corvus, and with greater access to its data-driven insurance technologies, we can continue our founding mission and support our policyholders as one, dynamic team."

"Beat businesses are formed around leading underwriting talent, and Tarian was one of our very first investments. We are pleased to support the acquisition of Tarian by Corvus. We recognize that in the dynamic world of cyber insurance, the importance of combining underwriting talent with technological investment has become increasingly apparent," said John Cavanagh, Chairman at Beat Capital. "The data-driven, cyber technologies of the Corvus Risk Aggregation Platform will provide the Tarian team with best-in-class technology to support its differentiated underwriting proposition."

Corvus is coming off tremendous growth in 2021. Following its $115M Series C funding round in the spring, Corvus strategically appointed new c-suite executives and announced a new Risk Aggregation Platform https://www.corvusinsurance.com/news/corvus-insurance-combats-cyber-risk-with-new-risk-aggregation-platform SM to address systemic cyber risk aggregations.

For more information about Corvus, visit corvusinsurance.com.

About Corvus

Corvus Insurance is building a safer world through smart insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners. Corvus offers market-leading specialty insurance products enabled by advanced data science, while its digital platforms and tools facilitate efficient quoting, binding, and proactive risk mitigation. Corvus was founded in 2017 by a team of veteran entrepreneurs from the insurance and technology industries and is backed by investors that include Bain Capital Ventures, Insight Partners, Aquiline Technology Growth and FinTLV. Insurance program partners include Accredited, AXIS Capital, Crum & Forster, Hudson Insurance Group, SiriusPoint, and Skyward Specialty Insurance. Corvus Insurance is headquartered in Boston, Massachusetts with offices across the United States.

About Tarian Underwriting Limited

Tarian Underwriting Limited until its acquisition by Corvus was part of Beat Capital Partners. Formed in 2016, Tarian is a specialist underwriter of cyber and technology errors & omissions insurance products.  Tarian's underwriters have been granted authority by Beat Syndicate 4242 which allows them to write on behalf of a consortia of Lloyd's syndicates as Syndicate underwriters. Lloyd's maintains an A or A+ rating among the top rating agencies.

About Beat Capital Partners

Beat Capital Partners ("Beat") was incorporated in May 2017 as a long duration venture capital investor exclusively focused on the insurance industry. Beat offers the right teams start-up funding, infrastructure, risk capital and A+ rated paper plus experienced guidance and support. Beat backs certain start-up teams and seeks partnership opportunities involving existing portfolios, platforms, or technologies, where our expertise brings value.

  • INDEPENDENCE
  • ADDED VALUE
  • SPECIALIST CLIENT KNOWLEDGE
  • PERSONAL SERVICE
  • DISCRETION

ABOUT US

PGD Strategy is an independent corporate finance advisory and strategy consulting firm based in London, England.

PGD Strategy is authorised and regulated in the United Kingdom by the Financial Conduct Authority.

CONTACT US

PGD Strategy Limited
Kemp House, 152 – 160 City Road
London EC1Y 2NX
United Kingdom
T:  + 44 (0) 20 8826 0295
Contact: Peter Droussiotis
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