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Reinsurance News


Beazley names Christine LaSala as Senior Independent Director

7th December 2018

Specialist re/insurer Beazley has announced the appointment of Christine LaSala as Senior Independent Director, effective from the company’s Annual General Meeting (AGM) on 21 March 2019. LaSala replaces George Blunden, who will step down from the board at the conclusion of AGM. Blunden retired as Senior Vice President and Director from AllianceBernstein ... Read the full article

Beazley expects $40m wildfire hit, net of reinsurance

6th December 2018

Beazley, the specialist re/insurer with a focus on Lloyd's, has announced an estimate of its potential losses from the recent California wildfires, putting them at $40 million, after accounting for reinsurance. The wildfires are set to hit specialty underwriters like Beazley hard, given they could have exposure across a number of ... Read the full article

Re/insurers shouldn’t fear replacement by technology: Beazley CEO Horton

3rd December 2018

The re/insurance industry is facing a major disruption by technology, but new capabilities such as automation will ultimately complement, rather than replace, the work done by re/insurers, according to Andrew Horton, Chief Executive Officer (CEO) of Beazley and Chairman of the London Market Group (LMG). “We’re definitely facing a disruption by ... Read the full article

Beazley’s Neil Maidment to join Lloyd’s Board in 2019

8th November 2018

Beazley's Neil Maidment has been appointed as an independent non-executive director of the Lloyd's Board for an initial three-year term, effective February 2019. The new appointment will be effective once Maidment's term of office on the Council of Lloyd's comes to an end on January 31st 2019. He is set to ... Read the full article

Premium growth and rate rises outweigh cat losses for Beazley at Q3

8th November 2018

Strong premium growth across all divisions and an average 3% rate increase on renewal business have driven profits for specialist insurer Beazley at the third quarter of 2018 despite significant catastrophe losses. Gross premiums written by Beazley for the nine months ended 30 September 2018 increased by 11% year-on-year to $1.96 ... Read the full article

Ensurance UK to offer cyber cover for construction sector, backed by Beazley

5th November 2018

Ensurance UK Limited, a managing general agent (MGA) and Lloyd’s Coverholder, has announced that it plans to target the construction sector with a new cyber insurance product, backed by global specialty insurer Beazley. Ensurance has been appointed as a distributor for the new product, which is designed to minimise business disruptions ... Read the full article

Email data breaches continue to escalate in Q2: Beazley

6th August 2018

The number of attacks targeting business email accounts continued to increase through the second quarter of 2018, particularly for organisations using Microsoft’s Office 365, according to specialist insurer Beazley. Beazley said that email compromises accounted for roughly 23% of incidents reported to its Beazley Breach Response (BBR) Services team during Q2 ... Read the full article

Beazley launches new Lloyd’s consortium for U.S wage & hour risks

26th July 2018

Specialist insurer Beazley has launched a new consortium at Lloyd’s to provide increased capacity for wage & hour risks and to expand the range of choices available to U.S organisations. The Concorde Consortium will underwrite risks on a surplus lines basis, building on Beazley’s existing expertise in employment practices liability (EPL), ... Read the full article

Beazley eyes broader growth in improved rating environment

20th July 2018

Price firming has been in line with the expectations of specialist insurer Beazley, and the firm sees an opportunity to take advantage of an improved rating environment, where it can ultimately look for growth across a broader range of business lines. The London-based insurer reported a decline in profit before tax ... Read the full article

Beazley announces Global Lawyers Consortium for large UK firms

19th July 2018

Beazley, the specialist insurer, has announced the launch of a new consortium that will provide professional indemnity insurance to large law firms based in the UK. Led by Beazley, the Global Lawyers Consortium will offer up to £10 million of primary capacity. Brenna Westinghouse, Focus Group Leader for Large Law Firms at ... Read the full article

ACORD, Aon, and Beazley release new Cyber Data Breach Standard

9th July 2018

ACORD, the insurance and reinsurance industry data standards body, has collaborated with Aon and Beazley on the development of the ACORD Cyber Data Breach Standard, a new standard that aims to increase operational efficiency across the global re/insurance value chain. According to a 2017 ACORD survey, nearly 60% of re/insurers consider ... Read the full article

Beazley appoints new territory manager for eastern Canada

9th July 2018

Specialist insurer Beazley has named Jo-Anne Hawthorne as territory manager for eastern Canada, reporting to Cheryl Hobbs, Territory Manager for Canada.  Hawthorne will be responsible for developing relationships with brokers in Ontario, Atlantic Canada, Ottawa and Quebec, with a focus on expanding the firm's book of business throughout these regions.  She brings ... Read the full article

Beazley launches updated InfoSec cyber policy

18th June 2018

Beazley has launched an enhanced version of its Beazley InfoSec policy to ensure its large business clients remain protected against the evolving nature of cyber exposures. When Beazley's policy was first launched in 2006, policyholders were mainly concerned with third party exposure from the loss of personal customer data, but, more recently, ... Read the full article

Beazley considers GDPR implications of Dixons Carphone data breach

13th June 2018

Beazley has considered the potential General Data Protection Regulation (GDPR) implications of a recently reported data breach at Dixons Carphone, which involved 5.9 million payment cards and 1.2 million personal data records. Dixons Carphone said there was no evidence that any of the cards had been used fraudulently following the breach, ... Read the full article

Beazley splits specialty lines into two divisions led by Eaton and Donovan

4th June 2018

Specialist and Lloyd’s focused re/insurer Beazley plc has completed a split of its specialty underwriting unit into two separate divisions, which places the cyber risk practice at the firm outside of specialty risks and into a new unit aligned on technology, media, business and management liabilities. Beazley has been reorganising its ... Read the full article

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