Reinsurance broker Guy Carpenter has announced the hire of former Moody’s Insurance Solutions cyber risk modelling and analytics specialist Damini Mago, as its new North American Head of Cyber ILS.
She began her career as a Data Scientist at Siemens, joining risk modeller RMS in early 2019 as a Cyber Risk Analyst.
Over her six years at the company and through its transition to become part of Moody’s, Mago held increasingly senior roles focused on cyber risk modelling, analytics and client management.
She became Moody’s Insurance Solutions’ Associate Director of Cyber in 2024, holding that position up to departing the firm this month.
Mago has now joined Guy Carpenter, taking a role at the reinsurance broker with a focus on cyber insurance-linked securities (ILS).
The company commented on her hire, “We are pleased to welcome Damini Mago to Guy Carpenter as North American Head of Cyber ILS. Damini brings extensive experience in measuring and managing cyber risk, as well as in developing capital solution strategies within the (re)insurance industry.
“In this role, she will be pivotal in advancing the burgeoning Cyber ILS market, providing innovative capital market solutions tailored to the needs of our cyber insurance clients.”
In a LinkedIn post on her new role, Mago said, “Looking ahead, I’m eager to bring that energy into this next chapter. Cyber ILS isn’t just a tool for unlocking much-needed capacity — it’s becoming a strategic lever for diversification against systemic cyber risk.
“As the (re)insurance industry evolves, I believe capital markets will play a central role in building a more resilient, responsive cyber reinsurance ecosystem. I’m humbled and excited to take on this next challenge and help shape the future alongside the fantastic team at Guy Carpenter.”
The cyber insurance-linked securities (ILS) market has grown steadily, with now a number of full Rule 144A cyber catastrophe bonds having been issued and many private ILS and collateralized reinsurance or retro cyber arrangements completed.
As the cyber insurance market continues to grow it is expected that the need for reinsurance capital to support this will result in more use of the capital markets, to diversify risk capital sources and access efficient capacity.
Read about every cyber cat bond transaction issued so far, including the first private cat bond deals and the more recent 144A cyber cat bond issuances, by filtering our Deal Directory by peril to view only cyber cat bond transactions.
Read all of Artemis’ cyber insurance-linked securities news here.
