Sodalis Capital Launches Cyber-Focused Brokerage Brecon Specialty

Sodalis Capital has launched Brecon Specialty, a London-based brokerage specializing in global cyber and technology errors and omissions (E&O) risks. The new firm aims to provide broking and risk advisory services to independent brokers and direct clients, focusing on the expanding cyber and tech E&O market. Brecon Specialty starts with a team of 14 led by CEO David Rees and operates on Pro Insurance Solutions’ platform while trading through Lloyd’s. The launch is backed by significant investments from B.P. Marsh and Alliant, indicating a strategy to build a multi-asset intermediary platform. The cyber insurance market is experiencing growth, with global premiums projected to rise, despite a volatile loss environment driven by ransomware and complex claims. Pricing trends have moderated after significant increases in previous years, with some markets seeing flat or lower rates for clients demonstrating strong cyber controls. Brecon aims to provide an independent alternative in a challenging market, leveraging Sodalis’ capital and expertise.

Key Points: • Sodalis Capital launched Brecon Specialty to focus on cyber and tech E&O risks. • The cyber insurance market is projected to grow, despite a volatile loss environment. • Brecon Specialty aims to offer an independent alternative in the London market.