New Director Contributes Deep Insurance Expertise to the Company

LONDON, UK– May 31, 2018 – Envelop Risk, a global specialty cyber insurance analytics and underwriting firm, announces that industry veteran Brian O’Hara will be appointed to its Board of Directors, effective as of May 31, 2018. O’Hara is the former Chairman and CEO of XL Capital Ltd, now XL Group. O’Hara joins Envelop’s distinguished board of directors and management team that combines global leaders in Insurance and technology.

“Brian’s extraordinary leadership as an executive and director transformed the insurance industry,” said Jonathan Spry, CEO of Envelop Risk. “He is an outstanding addition to our Board, and we will benefit greatly from his domain expertise and counsel.” Spry added, “Brian has helped form the excess casualty market back in the ‘80s while the market was hopelessly unprofitable. Cyber risk has parallels to the casualty markets of the ‘80s in it’s esoteric nature and growing demand. We will immensely benefit from Brian’s experience in building XL Capital from scratch.”

“I am honored to serve on the Envelop Risk Board of Directors,” said Brian O’Hara. “Envelop Risk is transforming the cyber insurance and reinsurance market through its innovative AI-based technology that addresses the complexity of cyber risk to more effectively quantify risk and tailor products.”

Background on Brian O’Hara

O’Hara has built a long and distinguished career in insurance. He served as President and Chief Executive Officer of XL from 1994 until 2008 and as Chairman of XL’s Board of Directors from 2008 to 2009.

In 1986, Mr. O’Hara joined XL Insurance (Bermuda) Ltd as its founding President and Chief Operating Officer, having begun his insurance career in San Francisco with The Royal Insurance Company and Employers’ Reinsurance Company. Under his leadership, by 2006, XL had a revenue of $9.8bn and a total assets of $59.3bn, one of the top insurers in the world.

He is a prior Chairman of the Association of Bermuda Insurers and Reinsurers (ABIR) and is a Director/member of the Executive Committee of the United States Chamber of Commerce. O’Hara is Director Emeritus of The School of Risk Management at St. John’s University, a Director of the Roundtable Private Equity Partnership and a member of the Senior Advisory Board of Oliver Wyman.

He has a Bachelor of Science in Economics from Santa Clara University and a CPCU designation, and has an Honorary Doctorate in Commercial Science from St. John’s University.