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Beazley sets up new underwriting divisions, names leaders

30th March 2022 - Author: Matt Sheehan

Beazley has announced the creation of four new interconnected underwriting divisions as part of its growth strategy, namely: Specialty Risks, Cyber Risks, MAP Risks and Property Risks.

Beazley, insurance reinsuranceBethany Greenwood will lead the Specialty Risks division, which also encompasses M&A and Executive Risks, with James Eaton supporting the transition in advance of his announced retirement in December 2022.

Bethany Greenwood has more than two decades of experience in financial and specialty lines, having risen to head of the FINPRO team in the West Zone while at Marsh.

She joined Beazley in 2019 as Head of Executive Risks, and was promoted to Group Head of Cyber and Executive Risks in 2020 and in 2021 served as Interim Group CUO for long tail business.

Next, the standalone Cyber Risks division will be led by Paul Bantick, who has served as Global Head of Cyber since 2020, and as Focus Group Leader Cyber and Technology prior to that.

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Bantick’s more than 20-year insurance career has seen him in leading underwriting and broking roles, starting at Wellington Underwriting, he rose to an Executive Director position at Willis Towers Watson, before joining Beazley in 2005.

The MAP Risks division brings together Beazley’s Political, Accident and Contingency, Market Facilities, Marine and Aviation businesses and will be headed by Tim Turner, who most recenly served as Interim CUO for short tail business at Beazley.

Turner has over 20 years’ experience in the maritime industry and is an experienced Hull & War Underwriter and a former Deputy Chair of Lloyd’s Joint War Committee.  He has been with Beazley since 1998 joining the Executive Committee in November 2018, as Group Head of Marine.

And finally, the Property Risks division sees the alignment of Beazley’s Property and Treaty Reinsurance underwriting and will be led by Richard Montminy.

Montminy has more than three decades of experience in the commercial property insurance market and joined Beazley in May 2019 from Zurich North America, where he was head of property for the US commercial insurance operation.

He also spent four years at Zurich, following an extensive career at Marsh where he held a variety of broking and leadership roles. Prior to Marsh, Montminy began his career at what is now FM Global.

“We have bold ambitions to grow our business across all key business lines and the changes we are announcing today position us to seize the opportunities both now and in the future,” said Adrian Cox, CEO of Beazley.

“We operate in an uncertain and complex risk environment, and it is our responsibility to do the right thing, supporting our clients to navigate through, by offering relevant insurance solutions and capacity, matched by first-rate risk management and loss prevention strategies,” Horton continued.

“The senior leaders of these new divisions are renowned experts in their fields, and I would like to thank them and the whole Beazley team, for their continued dedication to achieving our goals.”

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