Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Rate momentum to continue into 2021, says Beazley CEO Horton
28th July 2020
Andrew Horton, the Chief Executive Officer of specialist insurer Beazley, anticipates the rate momentum seen over the first six months of 2020 to continue into next year and enable double digit top-line growth for the company. “We expect this momentum to continue into 2021 because there doesn't seem to be anything ... Read the full article
Beazley sinks to $13.8mn H1 loss off COVID-19 claims
23rd July 2020
Specialist insurer Beazley has posted a $13.8 million pre-tax loss for the first half of 2020, against a profit of $166.4 million in the same period in 2019. The company attributes this loss to high volumes of claims arising from COVID-19 impacted lines, as well a lower investment return of $83.2 ... Read the full article
Beazley launches cyber, financial lines offering in Colombia
21st July 2020
Specialist insurer Beazley has launched a suite of cyber and financial lines insurance products aimed at protecting businesses and senior executives in Colombia. The information security and privacy (InfoSec) policy protects against a range of cyber and data security risks impacting Colombia-based businesses. The core policy provides first and third party protection ... Read the full article
Beazley sets up booking system for online broker meetings
7th July 2020
Specialist insurer Beazley has launched an online booking system to help brokers arrange virtual appointments and share documentation with underwriters. Built in collaboration with Microsoft and IT consultancy Redspire, Beazley Booking uses Microsoft’s Power Platform to create a web application that brokers can access securely. The booking system will enable brokers to ... Read the full article
Beazley wraps up Guidewire London Market ECF Integration
1st July 2020
Specialist insurer Beazley has successfully finalised its claims transformation program, powered by Guidewire ClaimCenter. ClaimCenter is now fully integrated with the London Market Electronic Claims File Write-Back (ECF). Beazley has worked closely with Guidewire to add ECF Write-Back to Guidewire’s London Market claims functionality. This functionality affords Lloyd’s Syndicates and the London company ... Read the full article
Ransomware attacks up 25% in Q1, says Beazley
25th June 2020
Specialist insurer Beazley has reported a 25% spike in ransomware attacks in the first quarter of 2020 versus the fourth quarter of 2019. This figure is based on incidents reported to in-house breach response team Beazley Breach Response (BBR) Services. While nearly all industries reported incidents, the manufacturing sector was the hardest ... Read the full article
Beazley reveals leadership team for cyber & tech business
24th June 2020
Specialist insurer Beazley has revealed a new leadership structure within its global cyber & tech underwriting team, designed to support greater knowledge sharing and collaboration between the team globally. As Beazley announced previously, from the 1st of July 2020, Paul Bantick will take on global responsibility for cyber & tech. In ... Read the full article
Beazley launches liability policy in US for SME media sector
12th June 2020
Specialist insurer Beazley has launched a new occurrence media liability policy covering the risks faced by small to medium-sized media outlets and publishers in the US. Beazley notes how, as traditional publishing and media groups have moved increasingly online, freelancers who solely publish online, including bloggers, vloggers and social influencers, are ... Read the full article
Beazley sees greater underwriting discipline, opportunities for growth: Jefferies
29th May 2020
Specialist re/insurer Beazley is seeing opportunities to deploy its recently raised capital for growth as the efforts of the Lloyd's marketplace drives greater underwriting discipline, reports Jefferies. Beazley announced on May 18th plans for a $300 million equity placement to support growth and to capitalise on rising rates being seen ... Read the full article
Beazley successful in $300 million capital raise
19th May 2020
Specialist insurer and reinsurer Beazley has announced the successful completion of its previously announced $300 million (£247 million) equity placement. Beazley said yesterday that it is raising capital in the form of an equity placement in order to support growth and take advantage of rising rates being seen across its ... Read the full article
Beazley to raise $300m to support growth, capitalise on rates
18th May 2020
Specialist insurance and reinsurance group Beazley is raising capital in the form of a roughly $300 million equity placement, as it looks to support growth and to capitalise on rising rates being seen across its book. Beazley is the latest to look to a fresh capital raise to not just shore ... Read the full article
Beazley expands global M&A underwriting team
29th April 2020
Specialist insurer Beazley has expanded its mergers & acquisitions team in an effort to better service key markets and explore new opportunities. Joining in London are Lorraine Lloyd-Thomas and Cameron McCoy. Lloyd-Thomas joins from Marsh where she spent 14 years, most recently as a managing director in its UK private equity and ... Read the full article
Beazley’s Q1 Covid-19 losses hit $170m, premiums jump 13%
22nd April 2020
Beazley, the specialist Lloyd's focused insurer and reinsurer, has estimated that the total claims from the ongoing COVID-19 pandemic on its first-party business stands at USD 170 million, net of reinsurance, the majority of which is across its marine, property and reinsurance divisions. The specialist re/insurer has released its trading statement ... Read the full article
Beazley gets regulatory nod for Labuan service company
21st April 2020
Specialist insurer Beazley has received authorisation by the Labuan financial regulator to open a new service company in the region. Beazley Labuan Limited has been established to help build a presence in the Malaysian market and underwrite various classes of business on a reinsurance basis on behalf of Beazley’s Lloyd’s syndicates. The ... Read the full article
Beazley names Bethany Greenwood as Head of Cyber & Exec Risk
16th April 2020
Specialist insurer Beazley has announced the appointment of Bethany Greenwood as Global Head of Cyber & Executive Risk (CyEx) from July 2020. Greenwood, who will also become part of Beazley’s executive committee, joined the company last September to lead the London market and US-based executive risk team. In this role she was ... Read the full article
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