"Significant investment" for Guernsey-based insurance firm

Thursday 18 June 2020

Astaara has been given a significant investment from the West of England Protection & Indemnity club, which is described as a "world leader in marine insurance".

The Guernsey-based integrated insurance services and risk management advisory business says the investment "reinforces its aim to position itself as the market-leading marine cyber specialist".

CEO Robert Dorey (pictured above) said the leadership team at Astaara was delighted to have the backing of a dedicated marine insurer.

"This investment recognises the underlying demand for marine cyber specialist insurance services and validates the approach of Astaara in addressing the gaps in the existing marine and cyber insurance market," he said.

"The current market conditions are unparalleled in terms of health threats due to global pandemic – to ports, ships crews and head office operations. This has forced marine operators to be more reliant than ever on digitisation, and this is already against a backdrop of ever-increasing sophistication of cyber-attacks which disrupt supply chains, and stakeholders’ confidence in their investments."

Pictured: Tom Bowsher. 

West Group CEO, Tom Bowsher said this was the perfect investment to show its members how seriously it takes cyber security.

"The cyber solution provided by Astaara is second to none – we are investing in a cyber product and a team that has a huge amount of experience," he said.

"Astaara clearly meets the demands of the shipowning and broader maritime community, of which we have a long and proud tradition of supporting. We have full confidence in Robert and the team, and the Astaara product, which in our view is the only comprehensive and integrated cyber solution that properly aligns the service that owners need with genuine experience, expertise and commitment."