Reinsurance News

Beazley news

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

Beazley’s Smart Tracker to transition into full market-facing syndicate

17th August 2022

Specialist re/insurer Beazley has announced that its Smart Tracker Special Purpose Arrangement (SPA) 5623 will now become a full market-facing syndicate at Lloyd’s, after being granted ‘in principle’ approval. Subject to Lloyd’s agreement of the Syndicate business plan and final approval, it will come into effect from January 1, 2023. From ... Read the full article

Beazley creates North American Commercial Property team, appoints regional leaders

3rd August 2022

Specialist re/insurer Beazley has announced that it has restructured its Large Commercial Property along with its Canadian and E&S Property teams to create a single North American Commercial Property Team. The new property team will be supported by four regional hubs to make access simpler for brokers and to create a ... Read the full article

Beazley’s H1 profit falls on investment losses as underwriting performance improves

22nd July 2022

Specialist re/insurer Beazley has reported a combined ratio of 87% for the first half of 2022, the best at a half year since 2015, although investment losses suffered in the period pushed down its pre-tax profit by 87%. Beazley's profit has declined from $167.3 million in H1 2021 to $22.3 million ... Read the full article

David Roberts to stand down as Chair of Beazley

21st July 2022

Specialist insurer Beazley has announced that its chair, David Roberts, will be standing down from the board in autumn 2022. Roberts will take up the role as Chair of the Court of the Bank of England and will succeed Sir Bradley Fried, who served as Chair from June 2018 to June ... Read the full article

Mass shooting insurance spikes 10% in the US

29th June 2022

The cost of insurance in the US related to mass shooting has gone up more than 10% this year, according to Reuters. The news service reported that even though mass shootings fell from 309 in the same period last year to 293 in the same period this year, the price of ... Read the full article

Beazley to offer additional capacity to ESG compliant clients

28th June 2022

Marsh has announced that specialist insurer Beazley is to offer global access to additional capacity to clients that opt in to its Environmental, Social, and Governance (ESG) Risk Rating.  Launched in March, Marsh’s ESG Risk Rating is an assessment tool that can measure an organisation’s ESG performance, ... Read the full article

Beazley launches D&O solution for crypto companies

17th June 2022

Specialist insurer Beazley has announced the launch of a new Directors’ & Officers’ liability (D&O) insurance product tailored specifically for crypto companies. According to the insurer, CryptoGuard - the first of its kind in the London and US markets - will put out capacity of up to $10m. Designed to address the ... Read the full article

Inflation and geopolitical risks increasing concern for business owners, says Beazley

15th June 2022

A new report from Beazley outlines how business leaders are fearing the consequences of war and inflation. The report, Spotlight on Geopolitical Risks, shows that US and UK business leaders feel able to manage current geopolitical risks, even as concerns over war have risen in the last year. It also found ... Read the full article

Beazley appoints Oliver Wheeler to replace retiring Catherina MacCabe

6th June 2022

Beazley has appointed Oliver Wheeler as focus group leader, effective from the beginning of July. The company said that Wheeler was replacing Catherina MacCabe, who was retiring. It also said that it was promoting Emma Pereira to be product leader on the same team. Gerard Bloom, Head of International, Specialty Risks said: ... Read the full article

Appetite for underwriting property cat reinsurance business tightening

1st June 2022

Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article

Beazley names Westhoff Head of North America, Commercial Property

27th May 2022

Leading global specialist, Beazley has announced that Matthew Westhoff has been appointed Head of North America, Commercial Property, a new role that brings together the company’s US property teams under his leadership. With over 19 years of experience underwriting US property risks, Westhoff joined Beazley in 2019 as Focus Group Leader ... Read the full article

Beazley launches online incident response platform for US cyber

26th May 2022

Beazley has launched an online incident response platform for US cyber policyholders. The firm said that the platform will serve as a central location to monitor and manage incidents, and centralize communications between the policyholder, Beazley, and specialist service providers. Raf Sanchez, head of cyber services at Beazley, said: “As the cyber ... Read the full article

Beazley’s Adam Glasby joins Novidea as Programme Manager

26th May 2022

Global insurtech and provider of a cloud-based insurance distribution platform, Novidea, has named Adam Glasby as one of its new Programme Managers. Glasby, who started his career as a software developer for Reuters Information Systems, brings 20 years of London Market experience towards his new role. Most recently he served at Lloyd’s ... Read the full article

Cyber pricing acceleration expected to continue through H1: JP Morgan

9th May 2022

Analysts at J.P Morgan have stated that cyber insurance is one of the fastest growing markets within insurance with premiums growing at a 27% CAGR (2017-21), but despite the high growth in the class, analysts have said that profitability is strong, with an average combined ratio of 77% vs 100% ... Read the full article

Beazley reports better-than-expected results for Q1 2022

6th May 2022

Beazley is reporting a 27% increase in gross written premiums between Q1 2021 and Q1 2022. The firm said that these had been $971m last year, but recently went up to $1,229m. At the same time, renewal rates reached 17%, up one percentage point from the year before. However, it did ... Read the full article