Reinsurance News

Beazley news

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

Beazley introduces parametric tornado disaster benefit insurance

31st August 2023

Specialty insurer Beazley has introduced the first admitted parametric tornado disaster benefit insurance for homeowners, in partnership with Sola Technologies and Spinnaker Insurance Company. The innovative Tornado Crisis product leverages National Weather Service (NWS) data to automatically initiate a fast and straightforward claims process. Neil Kempston, Head of Incubation Underwriting at Beazley, ... Read the full article

Beazley expands Incubation Underwriting team with Amy Ing’s appointment

21st August 2023

Joining from Liberty Specialty, Amy Ing has been appointed to Beazley’s Incubation Underwriting team, which focuses on discovering, designing and underwriting breakthrough new solutions and partnerships. Since its formation in 2020 the team has developed and collaborated on a range of new solutions, including Beazley’s Reputational Risk insurance policy, Assureful for ... Read the full article

Beazley CFO Sally Lake to exit the company in 2024

10th August 2023

Beazley has announced that its Chief Financial Officer (CFO) Sally Lake has informed the Board of her intention to leave the company in 2024, after serving in the position for five years. Prior to taking on the CFO role, Lake served as Group Actuary for five years, having previously held the ... Read the full article

Long-term opportunity in property insurance: Beazley’s Adrian Cox

27th July 2023

With climate change and growing inflation as a backdrop, the opportunity in property insurance is expected to be a long-term one with pricing more adequate than in property reinsurance, said Beazley CEO Adrian Cox. Speaking earlier during the specialist insurer's H1 2023 earnings call, Cox said: "We do think that the ... Read the full article

Beazley reports strong growth in H1 2023 on the back of “excellent” property market conditions

27th July 2023

Specialist insurer Beazley has reported robust growth in the first half of 2023, reporting a 13% increase in gross premiums written (GPW) to $2.9 billion. Alongside strong GPW growth, Beazley has announced a significant rise in net premiums written (NPW) for the period of 28% to approximately $2.3 billion. Much of the ... Read the full article

AM Best revises outlook for Beazley subsidiaries to positive

17th July 2023

Global rating agency AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and also affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of specialist re/insurer Beazley's subsidiaries. The subsidiaries include Beazley Insurance Designated Activity Company ... Read the full article

Economic impact of cybercrime on business predicted to reach $10.5 trillion by 2025: Cybersecurity Ventures

13th July 2023

The threats that are posed by new technologies such as artificial intelligence (AI), which had consistently reduced since 2021, is now predicted to be a growing threat for the next 12 months ahead, according to Beazley's latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. The report highlighted ... Read the full article

Beazley ESG Consortium continues growth as capacity moves to follow syndicate 5623

10th July 2023

Specialist insurer Beazley has unveiled the next phase of its ESG consortium, with Beazley’s dedicated ESG capacity being provided solely by 5623 from 1st January 2024, subject to regulatory approval Through the combination of its size, cost effectiveness and expertise as a leading follow syndicate, 5623 is "well placed" to deliver ... Read the full article

Amwins Global Risks launches Amwins Amplify alongside Beazley

19th June 2023

Amwins Global Risks, the international arm of global specialty insurance broker Amwins and one of the largest independent wholesale brokers in London has announced the launch of Amwins Amplify. This is a new automated follow-form facility led by Beazley's Smart Tracker Syndicate 5623. Amplify is led by John Andrews and Tom ... Read the full article

Ransomware trends on a rise, but Beazley well positioned to maintain growth: Paul Bantick

7th June 2023

Ransomware trends are on the rise but Beazley does not see its portfolio being affected as the company is well positioned to maintain growth and deliver strong profitability, specialist re/insurer Beazley's Paul Bantick said on a call held with JP Morgan analysts. Bantick, Global Head of Cyber & Tech at Beazley, ... Read the full article

Beazley & Arbol launch parametric weather products for the US market

25th May 2023

Arbol, a global climate risk solutions platform, and leading insurer, Beazley, have announced the launch of specialist parametric weather products to the US market. With the launch this now means that cutting-edge products are available for a range of perils, including low and excess precipitation, low and excess wind speed, high ... Read the full article

Beazley sponsors second cyber cat bond, secures $20m more reinsurance

25th May 2023

Specialty insurer and reinsurer, Beazley, has sponsored its second cyber catastrophe bond, adding $20 million of additional reinsurance protection via the issuance of Cairney II, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. In January, Beazley became the first to sponsor a cyber catastrophe bond when ... Read the full article

Miller hires Beazley’s Kate Enright as Head of Data

25th May 2023

Re/insurance broker Miller has appointed Kate Enright as Head of Data. As Head of Data, Enright will be responsible for building out the firm’s data and analytics capability, to effectively unlock data value, as well as drive new client solutions, and support Miller in implementing its strategic ambitions. She joins Miller from ... Read the full article

Beazley report urges layered cybersecurity strategies to combat surging software vulnerability exploitation

17th May 2023

Specialist re/insurer Beazley has released its latest Cyber Services Snapshot report, emphasising the critical importance of implementing a layered "Defence in Depth" cybersecurity strategy to safeguard organisations against the escalating exploitation of software vulnerabilities. The report presents a comprehensive analysis of global incidents handled by Beazley's Cyber Services, shedding light on ... Read the full article

Beazley launches new medical insurance product for the US and UK market

16th May 2023

Specialist insurer Beazley has announced the launch of its streamlined Miscellaneous Medical Liability insurance product called "MiscMed" for the US and London markets. Beazley’s MiscMed product provides protection for medical professional liability exposures arising out of a wide range of healthcare-related businesses. The product includes significant enhancements to wording. John Livatino, the ... Read the full article