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Hiscox Re, MS&AD unit invest in insurtech startup

Bermuda-based Hiscox Re and MS&AD Ventures Inc. have invested in insurance technology startup AkinovA Ltd.

The startup is developing an electronic marketplace for the transfer and trading of reinsurance risk. A key focus of the platform will be to address the transfer and trading of cyber risks, AkinovA said in a statement.

MS&AD Ventures is the venture capital arm of Japan's MS&AD Insurance Group Holdings Inc.