Converge Secures Additional Cyber Insurance Capacity from Lloyd's of London for Companies up to $5B in Revenue

Obsidian Capacity Also Increased to $5B Threshold, Strengthening Converge's Middle Market Position

New York, NY – March 26, 2026 – Converge, pioneers in advanced cyber risk management and underwriting, today announced it has secured underwriting capacity from Lloyd's of London for companies with annual revenues up to $5 billion. Additionally, Converge's existing capacity partner, Obsidian Insurance Group (“Obsidian”), has increased its capacity threshold from $1 billion to $5 billion in revenue. These parallel expansions enable Converge to deploy up to $10 million in policy limits for middle market and upper middle market companies, addressing the growing demand for substantial cyber coverage across firms facing increasingly complex digital exposures.

The expanded capacity from both Lloyd's of London and Obsidian reflects strong market confidence in Converge's distinctive approach of combining rigorous underwriting discipline with advanced technology to achieve superior risk selection and pricing precision. As one of the fastest-growing cyber insurtechs globally, Converge has distinguished itself through a data-driven methodology that assesses cyber risk with unprecedented accuracy while maintaining the underwriting standards critical to sustainable growth.

“Securing the $5 billion revenue threshold represents a defining moment for Converge and validates our technology-enhanced underwriting model,” said Tom Kang, CEO of Converge. “This expanded capacity empowers us to serve larger, more complex organizations across the middle market while maintaining the rigorous standards that have driven our success. We're scaling responsibly, with the same disciplined approach to risk selection that has earned us the confidence of the market.”

Bill Jewett, CEO of Obsidian, commented “we are very pleased to support the expansion of Converge in this growing and constantly evolving business segment. They are a best in class underwriting organization with exceptionally strong operational and distribution capabilities.

The expanded capacity will be available across Converge's full suite of products, allowing brokers to access comprehensive cyber solutions:

• ConvergeElements^TM offers primary and excess cyber coverage through select agents and brokers. Converge's proprietary technology platform allows it to ingest and collate data from applications, external system scans, underwriting and claims workspaces, insured/broker portals, analytics workspaces, and other specialized data sources to underwrite cyber risks more swiftly and effectively.
  

• ConvergeConnect^TM offers primary cyber coverage through prequalified technology provider partnerships. These partners provide Converge with access to insured-specific behind-the-firewall security and underwriting data to provide best-in-class customer solutions leveraging unmatched insights on cybersecurity posture.
  

• API products offer brokers the opportunity to directly access cyber coverage through Converge’s API. In addition to traditional first- and third-party coverages, the Converge API helps in assessing an insured’s cyber risk as well as providing direct access to managing cyber insurance claims through the firm’s in-house team of experienced claims experts.
  

With this enhanced capacity, Converge continues to strengthen its position as a broker-first organization, providing wholesale partners with the sophisticated tools, transparent risk assessment, and responsive service required to compete in today's complex cyber insurance market.

About Converge
‍Converge fuses cyber insurance, security and technology to provide businesses with clear, confident cyber protection. Deploying a proprietary data ecosystem underpinned by expert underwriting, it provides risk solutions that deliver high-value strategies with improved outcomes. Converge's philosophy is that insurance needs the right elements and personalized approach to mitigate risk. By partnering with its policyholders, Converge precisely formulates their business needs so they can confidently become cyber secure. Converge is headquartered in New York and operates across the U.S. Learn more at convergeins.com

About Obsidian
‍Obsidian Insurance Group is an insurance holding company system with two admitted insurance carriers and one non-admitted insurance carrier. All carriers are rated “A-“ by A.M. Best, and issue policies underwritten by managing general agents, managing general underwriters, and program managers. Obsidian sources, underwrites, and manages a diverse portfolio of property, casualty, and specialty insurance programs, and reinsures the majority of the business to select reinsurers. Obsidian was formed in 2020 in partnership with leading insurance industry executives and Genstar Capital. For more information, visit www.obsidianspecialty.com.

Media Contact
‍Ben Rosner
Head of Marketing & Communications
brosner@convergeins.com

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