Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
80% of digital health firms operating without effective protection, says Beazley
27th September 2022
A global survey conducted by Beazley has revealed that 99% of digital health firms anticipate growth, but almost 80% do not have an insurance policy tailored to the specific risks they face, despite claims spiking by 50% in the past year. The survey was drawn from 300 business leaders in the ... Read the full article
Beazley launches flexible policy for US hospitals
16th September 2022
Market-leading insurer Beazley has announced that it has launched the AcuteCare form - a broad and flexible policy specifically for US hospitals. The AcuteCare form comprises specialist protection and is also unique due to the fact that it provides coverage for areas that US Hospitals may be under-insured in, such as ... Read the full article
Beazley enters into distribution partnership with Paragon for Weather Guard
2nd September 2022
Specialist insurer Beazley, has announced a new, efficient and effective online portal solution for its leading Weather Guard product. The new online portal, created in partnership with Paragon, will provide a faster service with no changes being made to the actual quality of cover, limits or specific weather perils. At the same ... Read the full article
“European reinsurers underperforming market so far this year” – Goldman Sachs
25th August 2022
A new note from Goldman Sachs says that all four large European cap reinsurers have underperformed the market so far in 2022. The firm said that this was because of higher inflation, higher weather losses, potential Russia/Ukraine losses, and COVID losses. It wrote: “However, we have seen some of these issues and ... Read the full article
Beazley’s Smart Tracker to transition into full market-facing syndicate
17th August 2022
Specialist re/insurer Beazley has announced that its Smart Tracker Special Purpose Arrangement (SPA) 5623 will now become a full market-facing syndicate at Lloyd’s, after being granted ‘in principle’ approval. Subject to Lloyd’s agreement of the Syndicate business plan and final approval, it will come into effect from January 1, 2023. From ... Read the full article
Beazley creates North American Commercial Property team, appoints regional leaders
3rd August 2022
Specialist re/insurer Beazley has announced that it has restructured its Large Commercial Property along with its Canadian and E&S Property teams to create a single North American Commercial Property Team. The new property team will be supported by four regional hubs to make access simpler for brokers and to create a ... Read the full article
Beazley’s H1 profit falls on investment losses as underwriting performance improves
22nd July 2022
Specialist re/insurer Beazley has reported a combined ratio of 87% for the first half of 2022, the best at a half year since 2015, although investment losses suffered in the period pushed down its pre-tax profit by 87%. Beazley's profit has declined from $167.3 million in H1 2021 to $22.3 million ... Read the full article
David Roberts to stand down as Chair of Beazley
21st July 2022
Specialist insurer Beazley has announced that its chair, David Roberts, will be standing down from the board in autumn 2022. Roberts will take up the role as Chair of the Court of the Bank of England and will succeed Sir Bradley Fried, who served as Chair from June 2018 to June ... Read the full article
Mass shooting insurance spikes 10% in the US
29th June 2022
The cost of insurance in the US related to mass shooting has gone up more than 10% this year, according to Reuters. The news service reported that even though mass shootings fell from 309 in the same period last year to 293 in the same period this year, the price of ... Read the full article
Beazley to offer additional capacity to ESG compliant clients
28th June 2022
Marsh has announced that specialist insurer Beazley is to offer global access to additional capacity to clients that opt in to its Environmental, Social, and Governance (ESG) Risk Rating. Launched in March, Marsh’s ESG Risk Rating is an assessment tool that can measure an organisation’s ESG performance, ... Read the full article
Beazley launches D&O solution for crypto companies
17th June 2022
Specialist insurer Beazley has announced the launch of a new Directors’ & Officers’ liability (D&O) insurance product tailored specifically for crypto companies. According to the insurer, CryptoGuard - the first of its kind in the London and US markets - will put out capacity of up to $10m. Designed to address the ... Read the full article
Inflation and geopolitical risks increasing concern for business owners, says Beazley
15th June 2022
A new report from Beazley outlines how business leaders are fearing the consequences of war and inflation. The report, Spotlight on Geopolitical Risks, shows that US and UK business leaders feel able to manage current geopolitical risks, even as concerns over war have risen in the last year. It also found ... Read the full article
Beazley appoints Oliver Wheeler to replace retiring Catherina MacCabe
6th June 2022
Beazley has appointed Oliver Wheeler as focus group leader, effective from the beginning of July. The company said that Wheeler was replacing Catherina MacCabe, who was retiring. It also said that it was promoting Emma Pereira to be product leader on the same team. Gerard Bloom, Head of International, Specialty Risks said: ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Beazley names Westhoff Head of North America, Commercial Property
27th May 2022
Leading global specialist, Beazley has announced that Matthew Westhoff has been appointed Head of North America, Commercial Property, a new role that brings together the company’s US property teams under his leadership. With over 19 years of experience underwriting US property risks, Westhoff joined Beazley in 2019 as Focus Group Leader ... Read the full article
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