Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
London market re/insurers not immune to impacts of COVID-19: Peel Hunt
16th April 2020
London market insurers and reinsurers are certainly not immune to the economic fallout from the COVID-19 outbreak, with exposures to pandemic and the subsequent recession risks seen across the property, marine, casualty, and contingency classes, according to Peel Hunt. In recent industry notes, analysts at Peel Hunt have explored the potential ... Read the full article
Beazley launches Virtual Care insurance in Canada
15th April 2020
Specialist insurer Beazley has launched its Virtual Care insurance policy in Canada, providing protection against risks associated with technology-enabled healthcare and lifestyle management services. Beazley noted that the COVID-19 pandemic has sharply increased demand for telemedicine, and many providers are expanding or adding these services to meet demand and to protect ... Read the full article
Ransomware attacks “skyrocket” in 2019: Beazley
2nd April 2020
Ransomware attacks continue to represent the top cyber security threat for businesses, as incidents “skyrocketed” across 2019, according to a report by Beazley. Beazley Breach Response (BBR) Services reported the number of ransomware attack notifications against clients increased by 131% compared to 2018. With the growth in frequency, the sums demanded by ... Read the full article
Beazley appoints first breach response services manager in Canada
1st April 2020
Specialist insurer Beazley has announced the appointment of Priya Kunthasami as its first breach response services manager in Canada. Kunthasami will be based in Toronto and will oversee the management of breach incidents reported to Beazley’s Canadian policyholders. She will also provide oversight and management of the country’s vendors and work with ... Read the full article
Beazley bolsters global claims team with internal appointments
20th March 2020
Specialist insurer Beazley has bolstered its global claims team with a series of internal appointments. Beth Diamond has been promoted to group head of claims while Steven Chang has assumed the role of global head of complex claims. Chang was previously global claims team leader for healthcare and joined Beazley in 2006. He ... Read the full article
Beazley opens cyber product to brokers of SMEs via online platform
9th March 2020
Specialist insurer Beazley has announced that its cyber product, Beazley Breach Response (BBR), will be available to brokers of small and medium-sized business through the myBeazley platform in the US. Beazley says this will reduce the time required to obtain a bindable BBR quote by allowing brokers to access accounts, update ... Read the full article
Beazley selects Concirrus’ Quest Marine platform
5th March 2020
Specialist insurer Beazley has started leveraging Concirrus’ behaviour-based data analytics platform Quest Marine as an additional underwriting tool. Richard Young, Beazley’s head of hull and war, said the platform enables the company to examine its existing data in new and innovative ways build up a more detailed view of the risks ... Read the full article
Beazley sees opportunity in new forms of climate change cover, says CEO
12th February 2020
Andrew Horton, Chief Executive Officer (CEO) of specialist re/insurer Beazley, has said that he is confident that the market can adapt the potential impacts of climate change, and sees the climate challenge as an opportunity to explore new forms of coverage. As part of the release of Beazley’s 2020 results, ... Read the full article
Beazley profits jump off investments, rates rise 6%
6th February 2020
Specialist insurer Beazley has posted a pre-tax profit for 2019 of $267.7 million, up from $76.4 million in 2018, and reported a 6% rate increase. Beazley’s pre-tax profit jump was bolstered by a strong investment return of $263.7 million, up from $41.1 million in 2018. The firm’s combined ratio of 100% - ... Read the full article
Beazley adds Tokio Marine healthcare underwriter to LA office
27th January 2020
Specialist insurer Beazley has announced the appointment of Justin Sanches as an underwriter within the firm’s US healthcare liability team. Joining Beazley’s Los Angeles office, Sanches will underwrite a range of global miscellaneous medical and life sciences risks for middle market and large US-domiciled healthcare providers. He joins from Tokio Marine HCC ... Read the full article
Beazley partners with HewardMills, expands cyber risk services
22nd January 2020
Specialist insurer Beazley is partnering with Data Protection Officer (DPO) HewardMills, as it expands the cyber risk management services provided to policyholders. Beazley’s new suite of services includes pre-breach and risk management services selected and managed by a dedicated in-house Beazley Breach Response (BBR) Services team. “Working closely with the Beazley team ... Read the full article
AXA-backed insurtech Sayata Labs adds King Flynn from Beazley
17th January 2020
Sayata Labs, an insurtech start-up focused on cyber risk assessment for insurers and SMBs, has appointed King Flynn as head of insurance. Flynn joins the Sayata executive team and will report to Chief Executive Officer, Asaf Lifshitz. As head of insurance, he will lead the company's growth and distribution strategy to deliver ... Read the full article
Beazley & RenRe collaborate on capital markets-backed cyber reinsurance
9th January 2020
Specialist insurer Beazley has secured additional catastrophe cover for cyber events through the launch of a new reinsurance product in collaboration with Bermuda-based reinsurer, RenaissanceRe (RenRe), and which is backed by the capital markets. An announcement on the deal reveals that the vast majority of the security behind the deal will ... Read the full article
Beazley to serve as carrier partner on new SterlingRisk A&E program
17th December 2019
Specialist insurer Beazley has announced that it will serve as carrier partner for the new Architects and Engineers (A&E) professional liability insurance program from US broker SterlingRisk. The new program comes after SterlingRisk acquired renewal rights from Affinity Insurance Services for accounts in the Aon A&E Advantage professional lability insurance program. “The ... Read the full article
Beazley adds senior specialty lines underwriter from Markel
16th December 2019
Specialist insurer Beazley has bolstered its underwriting capabilities for specialty lines in Spain with the appointment of Gabriel Rodríguez as a senior specialty lines underwriter. Rodríguez joins a team led by Francisco Antonio Alcaide and will support the rollout of Beazley's e-trading platform, myBeazley. He joins from Markel, having served as ... Read the full article
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