Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley says GWP rose by 22% in latest results
11th November 2022
Specialist insurer Beazley has released its trading statement for the first nine months of 2022. The firm said that it had seen gross written premiums rise by 22%, compared to the first nine months of 2021. Meanwhile, it said premium rates on renewal business had increased by 17%, lower than the ... Read the full article
Singapore’s businesses face high risk and lower resilience: Beazley
4th November 2022
According to a recent Risk & Resilience research report from Beazley, Singapore business is more worried about risk and less resilient than its global peers. The report revealed that business leaders in Singapore display an admirable respect for the risks they face but at the same time, climate change needs to ... Read the full article
Fraudulent instruction claims are on the rise, says Beazley
1st November 2022
According to data released in Beazley’s new Cyber Services Snapshot report, fraudulent instruction as a form of cyber attack is on the rise, despite an overall decline in incidents. The data from the report suggests that professional service firms experienced more fraudulent instruction and almost as many business email compromise incidents ... Read the full article
Businesses may be overconfident about resilience to cyber threats: Beazley
18th October 2022
According to a recent Risk & Resilience research report from Beazley, there is a "worrying" degree of complacency around active cyber risk management and maintaining resilience to cyber threats, with over 41% of UK and US business leaders feeling "very prepared" to meet the cyber threat, which although down marginally ... Read the full article
Beazley & Certua partner on small programme & scheme business
11th October 2022
Specialist insurer Beazley has entered into a partnership with Certua to provide embedded specialist insurance for small scheme and programme business. Under the partnership, Beazley will use Certua’s Embedded Insurance platform to enable small scheme opportunities to be underwritten in an efficient and cost effective way, for both brokers and insureds. The ... Read the full article
Beazley expands Benelux Team with appointment of Rogier van Ommeren
6th October 2022
Specialist insurer Beazley has hired Rogier van Ommeren as a financial lines underwriter, extending its Benelux Team. In the new role, van Ommeren will be responsible for underwriting Beazley’s financial lines book of business in Benelux, working closely with local brokers and partners. He joined Beazley following a 13-year spell at financial ... Read the full article
80% of digital health firms operating without effective protection, says Beazley
27th September 2022
A global survey conducted by Beazley has revealed that 99% of digital health firms anticipate growth, but almost 80% do not have an insurance policy tailored to the specific risks they face, despite claims spiking by 50% in the past year. The survey was drawn from 300 business leaders in the ... Read the full article
Beazley launches flexible policy for US hospitals
16th September 2022
Market-leading insurer Beazley has announced that it has launched the AcuteCare form - a broad and flexible policy specifically for US hospitals. The AcuteCare form comprises specialist protection and is also unique due to the fact that it provides coverage for areas that US Hospitals may be under-insured in, such as ... Read the full article
Beazley enters into distribution partnership with Paragon for Weather Guard
2nd September 2022
Specialist insurer Beazley, has announced a new, efficient and effective online portal solution for its leading Weather Guard product. The new online portal, created in partnership with Paragon, will provide a faster service with no changes being made to the actual quality of cover, limits or specific weather perils. At the same ... Read the full article
“European reinsurers underperforming market so far this year” – Goldman Sachs
25th August 2022
A new note from Goldman Sachs says that all four large European cap reinsurers have underperformed the market so far in 2022. The firm said that this was because of higher inflation, higher weather losses, potential Russia/Ukraine losses, and COVID losses. It wrote: “However, we have seen some of these issues and ... Read the full article
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
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