Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
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
Beazley partners with Ardonagh for cross class follow capacity solution
16th April 2021
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist, reinsurance and wholesale broking brands, has partnered with Beazley for a cross class follow capacity solution that will exclusively benefit Price Forbes clients across multiple classes. The arrangement will see the Beazley Smart Tracker follow pre-approved ... Read the full article
London Market insurers’ 2020 profits cancelled out by Covid losses, says Fitch
31st March 2021
A majority of London Market insurers are reported by Fitch Ratings to have fallen to either a loss or a very slight profit in 2020, as pandemic-related costs offset most underwriting and investment profits. Despite investment returns having recovered well in the second half of 2020, Fitch states that returns were ... Read the full article
Beazley launches D&O product suite for SPACs
10th March 2021
Specialist insurer Beazley has launched a directors’ and officers’ (D&O) product suite designed specifically for Special Purpose Acquisition Companies (SPACs). The new D&O products for US-domiciled SPACs offer dedicated coverage for either the individuals, or the entity and individuals combined, from the initial public offering (IPO) to the initial business combination. Jim ... Read the full article
Beazley names Praesidium as provider for Safeguard policyholders
5th March 2021
Specialist insurer Beazley has named Praesidium as its provider of enhanced risk management, prevention, and response services for Beazley Safeguard policyholders. The Beazley Safeguard policy combines risk management and crisis response for primary insureds with effective insurance coverage to reduce the risk of sexual abuse occurring within organisations and to respond ... Read the full article
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