The appointment signifies a significant milestone in Howden’s ongoing efforts to attract top-tier talent in the broking sector, aligning with the increasing demand from clients seeking robust insurance solutions to safeguard against the growing menace of cyber threats, the company announced.
Catering to a growing cyber insurance market
The broader insurance market is dynamically responding to the rising threat landscape, with the Cyber market anticipated to surge from US$12 billion in 2012 to an estimated $50 billion by 2030, as revealed in Howden’s latest 2023 Cyber Report.
Bayon de La Tour, bringing a wealth of experience from the banking sector with roles in Wealth Management and Internal Audit, notably led Marsh’s Cyber broking operations in France in his previous role. His tenure with Marsh culminated in his elevation to the position of Managing Director and Head of Cyber for Marsh Europe. While maintaining his base in Spain, Bayon de La Tour will report directly to Shay Simkin, Group Global Head of Cyber at Howden.
Recognising the remarkable growth of the Cyber insurance sector over the past decade, Bayon de La Tour highlighted his enthusiasm for tackling key challenges related to distribution, tail-risk, and capital within the industry. He conveyed anticipation in utilising his extensive experience across Howden’s international footprint during this transformative phase.
He said: “I have witnessed the exceptional growth of the Cyber insurance market for more than a decade first hand, and I am excited to be joining Howden at this pivotal moment. By tackling key challenges around distribution, tail-risk and capital, the market is on the cusp of transformational growth, and I am looking forward to working across Howden’s international footprint in this next exciting chapter. Cyber insurance is a critical tool to ensure cyber resilience for companies of all sizes globally, and I will bring all my energy to better understand the needs of clients.”
Simkin highlighted the company’s unwavering commitment to advocating for clients amid an ever-evolving and highly charged threat environment and welcomed Bayon de La Tour to the team, saying: “We are committed to advocating for clients, as the market adapts to what is a fluid and highly charged cyber-threat environment, guiding them through their cyber journey, and equipping them with the knowledge and tools needed to enhance the resilience of their businesses. To achieve this, our strategy is to attract the best talent in the market, and we could not have wished for a better addition to our team!”
Main picture, David Howden, CEO
Author: Joanna England
