Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley receives in principle approval to launch Lloyd’s first ESG syndicate
18th October 2021
Specialist insurer Beazley has received in principle approval from Lloyd’s to establish Syndicate 4321 from the start of next year. The syndicate will focus exclusively on offering additional capacity to businesses that perform well against ESG metrics and will be led by Will Roscoe, Head of the Market Facilities Division. Syndicate 4321, ... Read the full article
Beazley names AXIS Capital’s Bob Quane CUO
24th September 2021
Specialist insurer Beazley has appointed Bob Quane to serve as its Chief Underwriting Officer (CUO), a role he brings 30 years' industry experience to. Quane joins from AXIS Capital, having served as CUO within its insurance segment. Based in New York, he starts October 11 and is also set to join Beazley’s Executive ... Read the full article
Beazley promotes Rachel Turk to Group Head of Strategy
22nd September 2021
Specialist insurer Beazley has appointed Rachel Turk to the newly created position of Group Head of Strategy, a role which sees her join the firm's executive committee with immediate effect. Turk joined the company back in 2009 as a D&O underwriter in Specialty Lines, later becoming Focus Group Leader in 2015, ... Read the full article
Beazley names Raf Sanchez as Global Head of Cyber Services
16th September 2021
Specialist insurer Beazley has appointed Raf Sanchez as its new Global Head of Cyber Services. Sanchez, currently International Manager of Beazley Breach Response Services, assumes his new Global Head of Cyber Services role next month and will continue to be based in London. Paul Bantick, Global Head of Cyber & Technology at ... Read the full article
Beazley hires Patricia Kocsondy as Head of US Cyber & Tech
17th August 2021
Specialist insurer Beazley has appointed Patricia Kocsondy as Head of US Cyber & Tech. Kocsondy joins from Chubb, where she served as senior vice president, errors & omissions (E&O) and cyber underwriting, for Chubb Limited’s North American Financial Lines. In her previous role, she was responsible for strategic leadership and direction, portfolio ... Read the full article
Beazley sells benefits business to Globe Life
3rd August 2021
Specialist insurer Beazley has sold its benefits business to Globe Life as the acquirer seeks to enhance its reach in the worksite marketplace. Beazley Benefits specialises in customised supplemental health solutions for the employee benefits market, with a product line that includes Supplemental Medical, Group Limited Indemnity, Critical Illness, Short Term ... Read the full article
Berenberg considers Beazley a rare opportunity for profitable growth
26th July 2021
Beazley has made strides to convince the market that cyber insurance’s profitable growth can be restored, while also addressing some uncertainty surrounding a potential $50 million in additional COVID-19 losses, according on to a Berenberg report. Beazley confirmed in its H121 results that its $340 million COVID-19 loss estimate for 2020-21 ... Read the full article
Beazley secures significant rate increases off ransomware rise
26th July 2021
Beazley has been described during a recent roundtable as having achieved good rate increases across all classes, platforms and territories during H1 2021, with most significant hardening in cyber in response to ransomware. Ransomware, and cyber crime more generally, was described as both a societal as well as an insurance issue. Beazley ... Read the full article
Beazley returns to profit as all divisions achieve rate rises in H1 2021
23rd July 2021
Specialist insurer Beazley has reported profit of $167.3 million for the first half of 2021 against a loss of $13.8 million in the prior year period, as the firm achieved good rate increases across all classes, platforms and territories. For the first half of the year, Beazley has reported solid growth ... Read the full article
Beazley highlights shifting expectations of insurance partners
22nd July 2021
Specialist insurer Beazley has released a report highlighting an increase in the rising level of expectations clients have of their insurance partners. Beazley’s findings are based on research involving 1,000 senior executives and insurance buyers in the US and UK, from across 10 industry sectors. The report says homogenised policies and a ... Read the full article
Beazley adds HSBC’s Dehmann as COO
12th July 2021
Specialist re/insurer Beazley has appointed 20-year industry veteren Troy Dehmann to serve as Chief Operating Officer (COO). His appointment follows former COO Ian Fantozzi’s transition to lead Beazley’s recently established digital business unit. Dehmann most recently served in a similar role for Finance Operations and Core Finance at HSBC. Before that he held ... Read the full article
Beazley launches nutraceutical-focused insurance solution
12th July 2021
Specialist insurer Beazley has launched a new insurance product available to companies active at all points of the nutraceutical industry value chain. NutraGuard has been designed as a way for nutraceutical manufacturers and distributors to secure cover for liability, general liability, errors and omissions (E&O), product recall expense, employee benefits liability ... Read the full article
Spring Partners hires Emma Stanford as Lead Underwriter
8th July 2021
Spring Partners, a joint venture from broker Aston Lark, has appointed Emma Stanford as Lead Underwriter. Stanford brings a wealth of experience in the Financial Lines Industry, most recently as Head of UK Financial Institutions at AXA XL. Spring has also confirmed that its capacity support for Financial Institutions with Beazley has ... Read the full article
Prince Charles launches industry-led climate change task force at Lloyd’s
24th June 2021
HRH The Prince of Wales has launched his Sustainable Markets Initiative (SMI) insurance task force today during a visit to Lloyd’s of London. Chaired by Lloyd’s, the task force is composed of executives from many of the world’s largest re/insurers and aims to provide an influential platform for the sector to ... Read the full article
Beazley reports growth in premiums to $971mn; 16% rate increase
13th May 2021
Specialist insurer Beazley has reported a 16% rise in gross premiums written (GPW) to $971 million for the first quarter of 2021, alongside premium rates on renewal business that came in above expectation. Rate momentum on renewal business saw an increase of 16% during Q1 2021, compared with 8% for the ... Read the full article
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