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Reinsurance News


Beazley appoints Roscoe to lead smart tracker syndicate

9th August 2019

Specialist insurer Beazley has appointed Will Roscoe to lead the company’s ‘smart tracker’ special purpose syndicate 5623 at Lloyd’s. Having joined the company in 2011 as an underwriter within open market property team, Roscoe will now oversee syndicate 5623's growth strategy whilst taking responsibility for underwriting the portfolio and working to ... Read the full article

Beazley adds three underwriters to US cyber & tech team

6th August 2019

Specialist insurer Beazley has announced the continued expansion of its U.S. cyber and technology team with the addition of three new underwriters. Over the past two years, Beazley states that this division has grown by 25% and that expansion looks set to continue with the appointments of the three new underwriters ... Read the full article

Beazley to partner with obstetrics AI firm PeriGen

24th July 2019

Specialist insurer Beazley is partnering with PeriGen, a developer of artificial intelligence-driven systems for obstetrics. The agreement will provide Beazley’s US healthcare clients with an early warning system for labor and delivery. PeriWatch Vigilance works alongside any existing electronic fetal monitor and assess long-term trends in fetal heart rate, contractions, maternal vitals ... Read the full article

Broker consolidation an opportunity for Beazley, says Layton

24th July 2019

Beazley’s global head of broker relations and marketing Lou Ann Layton has spoken of the opportunities inherent to an “undeniable” trend of consolidation currently sweeping the brokerage community. “While some people look at broker consolidation as a threat to the industry, or the underwriting community, Beazley sees it as an opportunity,” ... Read the full article

Strong investment gain offsets higher claims, low reserve releases for Beazley in H1

23rd July 2019

Specialist insurer and reinsurer Beazley has reported a combined ratio of 100% for the first-half of 2019, as a significant jump in investment income helped to offset higher claims, lower reserve releases and a loss in its reinsurance segment. Beazley has announced profit before tax of $166.4 million for the first-half ... Read the full article

Beazley adds two cyber, tech underwriters in US

28th June 2019

Specialist insurer Beazley has added Jennifer Beard and Matt Gullickson - two cyber & technology underwriters - to its US operations. The appointments were made to meet a growing demand from middle market businesses for insurance cover for cyber, data security and privacy exposures. Beard joins from Chubb, where she spent 12 ... Read the full article

Beazley adds Derek Dow to healthcare liability team in Canada

28th June 2019

Specialist re/insurer Beazley has announced the appointment of Derek Dow as an underwriter in its Vancouver, Canada office. Dow will be tasked with supporting the growth of Beazley’s healthcare liability book, underwriting large risk life sciences and miscellaneous medical malpractice. He arrives from HUB International where he spent the previous six years, ... Read the full article

Beazley appoints specialty treaty underwriter to product solutions team

24th June 2019

Specialist re/insurer Beazley has announced the appointment of Desiree Khoury as a specialty treaty underwriter within the Beazley Product solutions team, based in Los Angeles. Beazley Product Solutions designs customised specialist insurance cover backed by treaty reinsurance to support insurers and their policyholders. Khoury joins the division from NAS Insurance, where her ... Read the full article

Beazley confident of growth as rate momentum accelerates, say analysts

20th June 2019

Specialist insurer Beazley continues to experience improved rate momentum in 2019 with rates now up by 4% year-to-date, which analysts partly attribute to heightened claims activity across property lines and also some casualty classes of business. During a Beazley analyst seminar, the specialist insurance company revealed accelerated, positive rate momentum in ... Read the full article

Beazley to reinsure Trident’s surety offering

11th June 2019

Trident Insurance Group, Inc. has announced the signing of a reinsurance treaty with specialist insurer Beazley, which Trident says enables it to improve its competitive advantage in the expanding standard and specialty surety insurance sector. This new, strategic partnership enables Trident, a Maryland domiciled specialist surety insurer, to expand its current ... Read the full article

Beazley adds cyber cover to media, tech industry insurance policy

29th May 2019

Specialist insurer Beazley has incorporated cyber coverage into its MediaTech insurance policy as it looks to protect businesses against new and evolving forms of risk. The Beazley MediaTech policy has been streamlined to provide clear and concise wording and seamless protection, says Beazley, combining errors and omissions (E&O) and media liability ... Read the full article

Reports of ransomware attacks surged 105% in Q1: Beazley

28th May 2019

Ransomware attacks surged 105% in the first three months of 2019 when compared against the same period in 2018, with attackers shifting their focus to larger organisations able to pay high ransom amounts, according to a report by Beazley. While ransomware-as-a-service (RaaS) attacks remain commonplace and tend to hit unsuspecting small ... Read the full article

Beazley adds Cal Spessard to lead environmental liability claims team

21st May 2019

Specialist insurer Beazley has appointed Cal Spessard to lead a team responsible for handling claims arising from the company’s environmental liability business. Spessard, who will be based in New York, joins from environmental risk management specialists WCD Group, where he served as Director of claims and litigation services. Prior to joining WCD ... Read the full article

Beazley develops affirmative cyber cover for marine risks

15th May 2019

Specialist insurer Beazley has developed a new affirmative cyber insurance product for the marine space, designed to protect vessel owners and operators. The product, called Beazley Cyber Defence for Marine, will provide insurance for physical damage and loss of hire in the event that a cyber incident impacts a vessel’s operational ... Read the full article

Beazley posts robust premium growth for Q1 2019

9th May 2019

Specialist insurer Beazley experienced higher than normal levels of claims within its marine, property, and reinsurance businesses during the first-quarter of 2019, while premium growth continued. Despite the pressures of increased levels of claims, the insurer did report 16% growth in gross written premiums (GWP) for the first-quarter of the year, ... Read the full article

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