Reinsurance News


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

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

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