The purchase follows the 2019 launch of the Lion Rock Re sidecar.
The ILS fund manager’s parents makes hundreds of millions of dollars of capacity available.
It is hoped the capital platform will be live in Q4 for investors to support 2021 capacity.
Kara Owens said investors’ understanding of cyber insurance has evolved.
The scheme’s main retrocession programme, the world’s biggest terrorism reinsurance placement, will likely increase from last year’s £2.3bn.