HDI Group gives capital to cybersecurity start-ups

In this way, the Group wants to offer complementary products to its cyber security insurance. A prominent investor is also helping in the search for the right start-ups.

The insurance group HDI is setting a new focus with its investment arm Hannover Digital Investments. According to CEO Ulrich Wallin - the former head of Hannover Re - the main aim is to provide HDI customers with better protection against cyber attacks in addition to insurance. "Customers who are interested in cyber insurance also want services to either prevent attacks or to be able to work again quickly in the event of damage," Wallin tells the Handelsblatt. Wallin and his team will also receive support from experienced start-up investor Carsten Maschmeyer, whose group of companies will make a pre-selection and participate as a co-investor.

The HDI Group has been investing in start-ups via Hannover Digital Investments since 2017. The aim at Hannover Digital Invest is a portfolio of 20 to 25 investments, "around five are to be added each year", Wallin told Handelsblatt. Start-ups in the early corporate phase are of particular interest, with Hannover Digital Invest providing an average of 1.8 million euros in the first financing rounds.