Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
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
Beazley, Cytora partner to streamline insurance for brokers & clients
29th April 2022
Leading global specialist insurer, Beazley, has partnered with London insurtech firm, Cytora to automate risk processing and accelerate profitable growth. By using the Cytora Platform, this will allow Beazley to streamline its global risk intake, as well reduce manual processes and uplift straight-through processing, which will help lead to a better ... Read the full article
Beazley has war exclusions in every cyber policy: J.P Morgan
27th April 2022
In a report released by J.P Morgan based on findings from a recent conference call with Beazley’s Global Head of Cyber & Technology, Paul Bantick, to discuss the specialist insurers cyber business, it states that Beazley has war exclusions in every cyber policy. The report adds that the exclusions have two ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
Beazley hires Christian Taube as Head of Cyber, Intl.
4th April 2022
Specialist insurer Beazley has appointed Christian Taube as its new Head of Cyber Services – International, continuing the rapid expansion of its cyber team this year. Before joining Beazley, Taube was Chief Information Security Officer at Contentserv and, prior to that, he built the information security practice at DataGuard. Taube will be ... Read the full article
Beazley sets up new underwriting divisions, names leaders
30th March 2022
Beazley has announced the creation of four new interconnected underwriting divisions as part of its growth strategy, namely: Specialty Risks, Cyber Risks, MAP Risks and Property Risks. Bethany Greenwood will lead the Specialty Risks division, which also encompasses M&A and Executive Risks, with James Eaton supporting the transition in advance of ... Read the full article
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