Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley launches financial lines product sets for Asian market
7th November 2017
Specialist London-based insurer and reinsurer, Beazley, has launched both financial institutions and management liability solutions for the Asian marketplace. The financial institutions suite of products offers a seamless set of policies, including directors and officers (D&O) liability, professional indemnity protection for crime, and also tailored protection for investment management firms and ... Read the full article
Social engineering attacks on the rise but hacking & malware still dominate: Beazley
2nd November 2017
Social engineering attacks are on the rise across numerous industries as cyber attackers increasingly look to deceive in order to scam, according to London re/insurer Beazley's Q3 2017 Breach Insights report. The most prevalent cause of data breach during the first nine months of 2017 remains hacking and malware, which amounted ... Read the full article
Beazley adds David Roberts to Board as non-exec director
25th October 2017
London-based insurer and reinsurer, Beazley plc, has appointed David Roberts to its Board as a non-executive Director, and future non-executive Chairman of the Board. Roberts has been Chairman of Nationwide Building Society since July 2015, and will join the Beazley Board as a non-executive Director from November 1st, 2017. Furthermore, from March, ... Read the full article
Demand for BI & supply chain cyber coverage up, says Munich Re & Beazley
17th October 2017
Demand for holistic cyber cover for business interruption (BI) and supply chain risks has surged, report Beazley and Munich Re after having joined forces to offer complex cyber risk cover through their Vector partnership. "Since we established Vector, we’ve seen a significant shift in the pattern of demand for cyber cover," ... Read the full article
Beazley Dublin-based branch underwrites first policies
10th October 2017
Beazley has underwritten its first policies through its Dublin-based insurer, which was authorised by the Central Bank of Ireland in July, and established to offer contingency to the European markets in response to Brexit. Some of the policies written by Beazley Insurance are for European banks, which Beazley says are ... Read the full article
Beazley puts hurricane & quake catastrophe losses at up to $275 million
29th September 2017
Specialist and Lloyd's focused re/insurer Beazley plc has released an early estimate of its aggregate net losses following the impacts of major hurricanes Harvey, Irma and Maria, as well as the series of earthquakes in Mexico. The company sees its losses due to the recent catastrophe events falling in a range ... Read the full article
Beazley increases social engineering cover to match growing demand
14th September 2017
Beazley has expanded its social engineering cover for the U.S. to match the growing market demand for protection from impersonation scams and other attacks that have been on the increase in recent years. The new policy for social engineering cover provides up to $5,000,000 in excess of underlying cover of at ... Read the full article
Ransomware attacks up by 50% in H1 2017: Beazley
7th August 2017
Insurer Beazley has said that during the first six months of this year ransomware attacks increased by 50% when compared with the previous year, with accidental breaches also continuing to drive a significant volume of losses. The insurer has released its H1 2017 Beazley Breach Insight report, which, based on its ... Read the full article
Beazley Ireland prepares to expand cyber lines as demand grows
4th August 2017
Increasing demand for high quality cyber insurance is opening up attractive growth opportunities across Beazley Ireland's specialty lines portfolio. This comes against a backdrop of stifled demand for the more traditional catastrophe exposed risk lines, Beazley said in its H1 2017 results report. Data breach handling regulations tightening and increased awareness among ... Read the full article
Beazley appoints Santiago Jaramillo as Engineering Focus Group Leader
3rd August 2017
Beazley has announced Santiago Jaramillo as Engineering Focus Group Leader for the U.S. and Latin America. In his new role Jaramillo will manage the firm's building portfolio in the U.S., collaborating with the San Francisco and Atlanta builders' risk teams who will be reporting to him from 1st of August. Jaramillo, who ... Read the full article
Growth elusive in 2017, but Beazley makes a win on specialty lines
27th July 2017
Beazley revealed a winning start to the year at the 2017 mid-way point, reporting an overall 6% pre-tax profit increase due to pockets of growth in specialty lines despite market conditions for traditional large-scale risks becoming more competitive. The insurer's pre-tax profits rose by over $8 million to $159 million on gross ... Read the full article
Beazley receives green light to establish Dublin-based insurer
13th July 2017
The Central Bank of Ireland has authorised specialist insurer Beazley to convert its Dublin reinsurance firm into an insurer, after Beazley requested to transfer insurance transactions to Ireland to protect its European business after the Brexit vote. The reinsurer, Beazley Reinsurance Designated Activity Company (dac) was first established in 2009, with ... Read the full article
Beazley, Talbot, and Chaucer develop Asian Political Risk Consortium
19th May 2017
Lloyd's of London re/insurers Beazley, Chaucer, and Talbot have collaborated on the launch of a Political Risk Consortium in Asia, providing capacity of up to $130 million for individual risks. The new Political Risk Consortium in Asia will offer increased capacity for a variety of political and contract frustration exposures. Offering ... Read the full article
Nexus and Beazley Syndicate collaborate to offer cyber solutions
10th May 2017
Specialty Managing General Agent (MGA) Nexus Group has announced plans to use its broker network to collaborate with Beazley Syndicate to provide cyber insurance solutions, effective 1st of May, 2017. In the initiative to expand its solutions offer into one of the fastest growing risks and insurance markets, Nexus will act as ... Read the full article
Beazley Re expected to start underwriting third-party business
10th April 2017
Beazley Re, the Irish domiciled internal reinsurance company of Lloyd's and international insurance and reinsurance specialist Beazley, is expected to begin underwriting third-party business as well. Beazley said in its annual report that it filed an application with the Central Bank of Ireland to convert Beazley Re dac, its long-established ... Read the full article