Reinsurance News

Beazley news

News on Beazley, the London-market headquartered specialty insurance and reinsurance company.

Ellie Horner takes over as Head of Ceded Reinsurance at Beazley

24th November 2022

Specialist insurer Beazley has named Ellie Horner as Group Head of Ceded Reinsurance, following the departure of William Mills to AGCS. Horner has served as Ceded Reinsurance Manager at Beazley since 2020. Prior to this, she spent 12 years working as a US Casualty Treaty Broker at Aon, having joined the firm ... Read the full article

Marsh places insurance for UK space launch with Beazley

23rd November 2022

Broker and risk advisory firm Marsh says it has placed insurance with Beazley for the first space rocket launch from the UK. The firm said that the launch – which is expected to take place this year at Spaceport Cornwall, one of the UK’s first domestic spaceports – will carry, among ... Read the full article

Industry returns driven by hard market: Goldman Sachs

23rd November 2022

A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This has continued, it said, as the hard market pricing has started ... Read the full article

Reinsurance market next year will be a “challenging environment”: Beazley’s Cox

22nd November 2022

The reinsurance market is set to be a “challenging environment” next year which Beazley expects to see shift significantly, says Chief Executive Officer Adrian Cox. During Beazley’s Q3 22 earnings call, Cox stated that a “properly priced reinsurance and a disciplined reinsurance market is positive for the insurance industry overall”. He also ... Read the full article

Beazley raises £350m to support organic growth, fund attractive underwriting opportunities

16th November 2022

Beazley, the specialist insurer, has completed its previously announced share issuance, raising gross proceeds of roughly £350 million (£337m net) to support organic growth and fund attractive underwriting opportunities, while maintaining a strong balance sheet. The firm announced yesterday that it was looking to raise £385 million via the placing of ... Read the full article

Beazley targets £385m capital raise, plus retail share issuance

15th November 2022

Specialist insurer Beazley plans to issue 60,959,017 new ordinary shares of five pence each to raise gross proceeds of £385 million, alongside an additional retail share issuance, as the company looks to take advantage of "attractive underwriting conditions." The new ordinary shares Beazley intends to issue represents 9.9% of its existing ... Read the full article

Beazley says GWP rose by 22% in latest results

11th November 2022

Specialist insurer Beazley has released its trading statement for the first nine months of 2022. The firm said that it had seen gross written premiums rise by 22%, compared to the first nine months of 2021. Meanwhile, it said premium rates on renewal business had increased by 17%, lower than the ... Read the full article

Singapore’s businesses face high risk and lower resilience: Beazley

4th November 2022

According to a recent Risk & Resilience research report from Beazley, Singapore business is more worried about risk and less resilient than its global peers. The report revealed that business leaders in Singapore display an admirable respect for the risks they face but at the same time, climate change needs to ... Read the full article

Fraudulent instruction claims are on the rise, says Beazley

1st November 2022

According to data released in Beazley’s new Cyber Services Snapshot report, fraudulent instruction as a form of cyber attack is on the rise, despite an overall decline in incidents. The data from the report suggests that professional service firms experienced more fraudulent instruction and almost as many business email compromise incidents ... Read the full article

Businesses may be overconfident about resilience to cyber threats: Beazley

18th October 2022

According to a recent Risk & Resilience research report from Beazley, there is a "worrying" degree of complacency around active cyber risk management and maintaining resilience to cyber threats, with over 41% of UK and US business leaders feeling "very prepared" to meet the cyber threat, which although down marginally ... Read the full article

Beazley & Certua partner on small programme & scheme business

11th October 2022

Specialist insurer Beazley has entered into a partnership with Certua to provide embedded specialist insurance for small scheme and programme business. Under the partnership, Beazley will use Certua’s Embedded Insurance platform to enable small scheme opportunities to be underwritten in an efficient and cost effective way, for both brokers and insureds. The ... Read the full article

Beazley expands Benelux Team with appointment of Rogier van Ommeren

6th October 2022

Specialist insurer Beazley has hired Rogier van Ommeren as a financial lines underwriter, extending its Benelux Team. In the new role, van Ommeren will be responsible for underwriting Beazley’s financial lines book of business in Benelux, working closely with local brokers and partners. He joined Beazley following a 13-year spell at financial ... Read the full article

80% of digital health firms operating without effective protection, says Beazley

27th September 2022

A global survey conducted by Beazley has revealed that 99% of digital health firms anticipate growth, but almost 80% do not have an insurance policy tailored to the specific risks they face, despite claims spiking by 50% in the past year. The survey was drawn from 300 business leaders in the ... Read the full article

Beazley launches flexible policy for US hospitals

16th September 2022

Market-leading insurer Beazley has announced that it has launched the AcuteCare form - a broad and flexible policy specifically for US hospitals. The AcuteCare form comprises specialist protection and is also unique due to the fact that it provides coverage for areas that US Hospitals may be under-insured in, such as ... Read the full article

Beazley enters into distribution partnership with Paragon for Weather Guard

2nd September 2022

Specialist insurer Beazley, has announced a new, efficient and effective online portal solution for its leading Weather Guard product. The new online portal, created in partnership with Paragon, will provide a faster service with no changes being made to the actual quality of cover, limits or specific weather perils. At the same ... Read the full article