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Beazley, RenaissanceRe launch capital market-backed cyber reinsurance

Beazley PLC is seeking additional catastrophe cover for cyber events through a reinsurance product jointly launched with RenaissanceRe Holdings Ltd.

The capital market-backed product will support Beazley's growing affirmative cyber offering in excess of levels that are currently available in the traditional reinsurance market.

Capital sources structured by RenaissanceRe will provide the majority of the security behind the transaction.