Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Jefferies calculates aviation war losses could hit $1.5bn
29th March 2022
Jefferies has calculated that aviation war losses due to the Russia-Ukraine conflict could reach $1.5bn for the market. A new note from the financial services company points to recent pronouncements from the CEO of Lloyd’s of London that estimated insured losses were to be between 15% and 20% of asset values. ... Read the full article
Motus and Beazley team up for earthquake insurance
2nd March 2022
Broker firm Motus Insurance Services has added Beazley to provide an ‘elective earthquake program’ for residential and commercial associations. The program, according to a press release, is designed to bring all the benefits of a traditional master earthquake insurance policy to the more than 30,000 associations and 2.2m condo owners not ... Read the full article
Arch Insurance names Joe Morrello as SVP
28th February 2022
Arch Insurance, part of Arch Capital Group, has appointed Joe Morrello as Senior Vice President, E&S Property where he will oversee the expansion of Arch E&S Property through the company’s strong relationships with its broker partners and our decisions based on advanced analytics. Morrello is a seasoned property professional with years ... Read the full article
Beazley head of specialty lines to retire
23rd February 2022
Beazley’s head of specialty lines James Eaton is to retire at the end of the year. A statement from the insurer said that Eaton will remain in charge for the remainder of the year, with a succession plan to be announced later. Adrian Cox, CEO of Beazley, said: “James has played a ... Read the full article
Beazley, Chaucer, and Gaia team up for new IVF underwriting approach
14th February 2022
Beazley and Chaucer have been working with Gaia to design a new underwriting approach for IVF treatment within the UK. Gaia said that the product will be led by Beazley with further support provided by Chaucer and Atrium. Meanwhile, it has been appointed as a Lloyd’s Coverholder. George Beattie, head of incubation ... Read the full article
Beazley achieves 30% growth in GWP for 2021
10th February 2022
Specialist insurer Beazley has achieved double-digit premium growth, with gross written premiums (GWP) up by 30% to $4,618.9 million for the fourth year in a row, surpassing 2020, when the company reported $3,563.8m in GWP. The insurer also reported an improved combined ratio of 93% compared to 109%, which was reported ... Read the full article
Beazley adds Katie Hunter to Open Market Property team
8th February 2022
Specialist insurer Beazley has appointed Katie Hunter as Underwriter for the company’s Open Market Property division, where she will be based in the Bishopsgate office. Hunter is a seasoned property underwriter, bringing over 20 years' experience in the London Market to her new role. She started her career at re/insurer Brit before ... Read the full article
Beazley Digital goes live
7th February 2022
Beazley’s new digital hub that brings together underwriting, claims, technology, and operational experts into one team has gone live. The service, known as Beazley Digital, aims to provide digital access and services to a range of products for Beazley’s global broking partners. Ian Fantozzi, CEO of Beazley Digital said: “With technology playing ... Read the full article
Hardening cyber market shows no signs of slowing: Berenberg
25th January 2022
Analysts at Berenberg have reported that hardening conditions in the cyber re/insurance market show no signs of slowing down, as demand for coverage continues to outstrip supply. As of Q3 2021, rates were up 204% cumulatively over 12 months and, currently, and Berenberg sees no evidence that this momentum will be ... Read the full article
BoA predicts strong numbers for European reinsurers
24th January 2022
Bank of America (BoA) has said that reinsurers in Europe should post strong last-quarter numbers for 2021, saying that figures for that period may be higher than expected. The bank said it believes that a strong Q4 2021 will contrast well with the same period of the year before, which was ... Read the full article
Cyber landscape to increase in 2022: Beazley’s Raf Sanchez
12th January 2022
Beazley’s Head of Cyber Services, Raf Sanchez, has reported his predictions for the cyber insurance landscape for the following year, anticipating that it will likely increase. “Whilst many organisations know to expect short-term technical and operational impacts, we find they are often un-prepared for the longer lasting impact on their reputation,” ... Read the full article
Cyber requires significant investment in underwriting: Beazley
4th January 2022
Specialist insurer Beazley recently hosted a small group meeting with Paul Bantick, Global Head of Cyber and Technology, and Sarah Booth, Head of IR, which focused on cyber insurance. According to the insurer, cyber requires significant investment in underwriting and data analytics and cyber experts, but will generate attractive returns. It believes ... Read the full article
Profitable growth is back: Beazley
2nd December 2021
Beazley has released a new report which shows a good outlook for profitable growth in the short and medium term. The report noted that the outlook for growth in 2022 has improved in comparison to six months ago. Its margin has returned to the business as the combined ratio is now trending ... Read the full article
Environmental issues are not a business priority: Beazley
23rd November 2021
According to a new report from Beazley, environmental issues are bottom of business leaders’ concerns and set to fall further in 2022. The report shows that only 12% of business leaders across ten industry sectors in the UK and US rank environmental concerns as their top risk category in 2021, falling ... Read the full article
Beazley rolls Product Recall insurance out to Canadian market
17th November 2021
Specialist insurer Beazley has expanded its portfolio in Canada with the launch of its Product Recall product offering to the national market. The new range includes coverage for three different product offerings and will be available throughout Canada. Underwriter Evan Pollock joined Beazley as Lead Product Recall Underwriter last month, bringing experience ... Read the full article
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