Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Lloyd’s Syndicate Ki expands digital follow capacity with Beazley partnership
28th March 2024
Ki, the digital and algorithmically driven Lloyd’s follow platform, has entered into a multi-year partnership with Beazley by adding the insurer’s capacity to its platform. This partnership will include Ki offering additional follow capacity from Beazley syndicate 2623/623 through its digital platform from 2 April 2024. Having grown significantly since its launch ... Read the full article
Beazley reports CoR of 71% and record profit in 2023
7th March 2024
Specialist insurer Beazley has announced record pre-tax profit of $1.25 billion and a combined ratio of 71% for the year ended December 31st, 2023, with strong growth in the insurance service result of 52% and an investment return of 4.9%. Group profit after-tax rose 112% from 2022's $483 million to $1.026 ... Read the full article
Beazley lays out additional shareholder capital return for 2023 of $300m
22nd February 2024
Following a solid year, specialist insurer Beazley has revealed that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, anticipated to be around $300m. The firm has also provided an update to guidance on its undiscounted combined ratio, which has reportedly improved from ... Read the full article
Beazley creates integrated cyber risk management company, Beazley Security
21st February 2024
Specialty insurer Beazley has announced the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley explained that the new company integrates the risk management services provided as part of a cyber insurance policy with Lodestone’s ... Read the full article
Gallagher Re expects more cyber cat bonds in 2024
21st February 2024
Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of PoleStar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe bond for specialty re/insurer Beazley. Gallagher Securities’ served as the sole structuring ... Read the full article
Beth Diamond to lead claims and litigation team at Beazley
24th January 2024
Specialist insurer Beazley has announced the appointment of Beth Diamond as Group Chief Claims and Litigation Officer. In her expanded role she manages an industry-leading team servicing claims from a diverse variety of specialty insurance lines. Additionally, she leads in the development of an oversight model for all litigation matters and processes, ... Read the full article
Beazley ‘delighted’ to sponsor first 144A cat bond via the Lloyd’s London Bridge platform
8th January 2024
The world's oldest insurance and reinsurance marketplace, Lloyd's, has confirmed the issuance of the first 144A catastrophe bond transaction via London Bridge 2 PCC Limited, the Beazley sponsored $100 million transaction. The deal, which is listed in the Artemis Deal Directory, is the first 144A property catastrophe bond sponsored ... Read the full article
Beazley successfully closes its first 144A cyber catastrophe bond
2nd January 2024
Specialist insurer Beazley, has closed its first 144A cyber catastrophe bond providing cover of $140 million. This marks Beazley’s first inaugural 144A bond and builds on its $81.5 million cyber catastrophe bond programme of 2023. The PoleStar Re Ltd. Series 2024-1 Class A cyber catastrophe bond notes cover Beazley for ... Read the full article
Generative AI will “continue to be the unknown risk in 2024”, Beazley’s Bantick
20th December 2023
As generative AI continues to grow and expand across the re/insurance sector, the technology's use for both good and ill will "continue to be the unknown risk in 2024", Paul Bantick, Group Head of Cyber Risks at global specialist insurer Beazley, has said. On the back of this rapidly developing technology, ... Read the full article
Beazley anticipates major shifts in property insurance landscape for 2024
19th December 2023
In a forward-looking statement, Richard Montminy, the Global Head of Property Risks at Beazley, a prominent global specialist insurer, has forecasted significant changes in the property insurance sector as we enter 2024. Montminy emphasises a paradigm shift as "secondary" perils such as hail, tornadoes, floods, and wildfires are swiftly evolving into ... Read the full article
Patricia Kocsondy to lead Beazley’s Global Cyber Digital Risks team
18th December 2023
Specialty insurer Beazley has appointed Patricia Kocsondy as Head of Global Cyber Digital Risks, effective January 1, 2024. In her new role she will be responsible for setting the global product and distribution strategy for all of Beazley’s cyber business sub $250million, and ensure products and services are tailored to the ... Read the full article
Marsh and Beazley collaborate to reward ESG performance in global construction industry
11th December 2023
Marsh, a global insurance broker and risk advisor, has partnered with specialist insurer Beazley to incentivise environmental, social, and governance (ESG) excellence in the construction sector. The collaboration offers construction contractors access to additional professional indemnity (PI) cover based on their Environmental, Social, and Governance (ESG) performance. The initiative stems from Marsh's ... Read the full article
Beazley to work with DRC’s RS X Rating for Global Enterprise Rating
4th December 2023
Specialist insurer Beazley has selected Decision Research Corporation (DRC), a provider of enterprise software solutions for the Property and Casualty insurance industry, to help power its next generation of pricing tools. To do so, the London-based insurer will work with DRC’s RS X Rating as the Global Enterprise Rating technology. Troy Dehmann, ... Read the full article
Beazley sponsors debut two cat bonds in tandem, one cyber one nat cat
22nd November 2023
Specialist insurer Beazley is tapping the capital markets for reinsurance protection against cyber risks and named storm and earthquake losses with its first two Rule 144a catastrophe bond transactions. After sponsoring three private cyber cat bonds earlier this year, London headquartered Beazley has returned with its debut full 144a issuances, both ... Read the full article
Climate risk prompts Beazley’s proactive approach in property market: Matt Westhoff
15th November 2023
In an interview with Reinsurance News, Matt Westhoff, Head of North American Commercial Property at Beazley, outlined the company's robust strategy to navigate the complex landscape of climate change and its implications on the re/insurance market. Addressing the uncertainties of climate change, Westhoff underscored Beazley's commitment to a forward-looking model, emphasising ... Read the full article