Reinsurance News

Beazley news

News on Beazley, the London-market headquartered specialty insurance and reinsurance company.

Beazley launches new private equity liability insurance product

27th January 2023

Beazley, the specialist insurer, has announced the launch of a new private equity liability insurance product. The insurer stated that the tailored product is designed to focus on the inherent directors and officers (D&O) risks within the long-term lifecycle of portfolios held by private equity firms. Across the full lifecycle of investments, ... Read the full article

Beazley hires Swiss Re’s Fred Kleiterp as European General Manager

25th January 2023

Beazley has appointed former Swiss Re executive Fred Kleiterp to the role of European General Manager as the firm continues its growth across Europe. Kleiterp will join the company on 1 June 2023 and will additionally become a member of the Executive Committee. Beazley suggests that the appointment is another step in ... Read the full article

Beazley confirms placement of market’s first cyber cat bond

9th January 2023

Specialist re/insurer Beazley has now confirmed that it has sponsored a ground-breaking cyber catastrophe bond transaction, designed to cover remote probability catastrophic and systemic cyber events, with the potential for more deals later in 2023 and beyond. It was reported earlier by the Financial Times that Beazley, the London headquartered ... Read the full article

Beazley launches $45 million cyber catastrophe bond

9th January 2023

Specialist insurer and reinsurer Beazley has launched a $45 million cyber catastrophe bond, providing the carrier with protection against "remote probability catastrophe and systemic events", opening up a much larger source of capital for the firm, according to a report by the Financial Times. It's been described as the first cyber ... Read the full article

Beazley poised to expand presence in property market throughout 2023

20th December 2022

With an expected turnaround in the fortunes of the property re/insurance markets throughout 2023, Beazley’s Group Head of Treaty, Patrick Hartigan, suggests the firm is ready to step up and support insurers and commercial buyers to find cover as peers pull back in the face of investor disillusionment due to ... Read the full article

Beazley Smart Tracker Syndicate 5623 given Lloyd’s approval

8th December 2022

Beazley Smart Tracker Syndicate 5623 has been granted Lloyd’s approval, meaning it will move from a Special Purpose Arrangement to full syndicate status. A statement from Beazley said that the approval will be effective from the beginning of January. Adrian Cox, CEO Beazley, said: “As a pure follow syndicate, 5623 offers a ... Read the full article

Ellie Horner takes over as Head of Ceded Reinsurance at Beazley

24th November 2022

Specialist insurer Beazley has named Ellie Horner as Group Head of Ceded Reinsurance, following the departure of William Mills to AGCS. Horner has served as Ceded Reinsurance Manager at Beazley since 2020. Prior to this, she spent 12 years working as a US Casualty Treaty Broker at Aon, having joined the firm ... Read the full article

Marsh places insurance for UK space launch with Beazley

23rd November 2022

Broker and risk advisory firm Marsh says it has placed insurance with Beazley for the first space rocket launch from the UK. The firm said that the launch – which is expected to take place this year at Spaceport Cornwall, one of the UK’s first domestic spaceports – will carry, among ... Read the full article

Industry returns driven by hard market: Goldman Sachs

23rd November 2022

A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This has continued, it said, as the hard market pricing has started ... Read the full article

Reinsurance market next year will be a “challenging environment”: Beazley’s Cox

22nd November 2022

The reinsurance market is set to be a “challenging environment” next year which Beazley expects to see shift significantly, says Chief Executive Officer Adrian Cox. During Beazley’s Q3 22 earnings call, Cox stated that a “properly priced reinsurance and a disciplined reinsurance market is positive for the insurance industry overall”. He also ... Read the full article

Beazley raises £350m to support organic growth, fund attractive underwriting opportunities

16th November 2022

Beazley, the specialist insurer, has completed its previously announced share issuance, raising gross proceeds of roughly £350 million (£337m net) to support organic growth and fund attractive underwriting opportunities, while maintaining a strong balance sheet. The firm announced yesterday that it was looking to raise £385 million via the placing of ... Read the full article

Beazley targets £385m capital raise, plus retail share issuance

15th November 2022

Specialist insurer Beazley plans to issue 60,959,017 new ordinary shares of five pence each to raise gross proceeds of £385 million, alongside an additional retail share issuance, as the company looks to take advantage of "attractive underwriting conditions." The new ordinary shares Beazley intends to issue represents 9.9% of its existing ... Read the full article

Beazley says GWP rose by 22% in latest results

11th November 2022

Specialist insurer Beazley has released its trading statement for the first nine months of 2022. The firm said that it had seen gross written premiums rise by 22%, compared to the first nine months of 2021. Meanwhile, it said premium rates on renewal business had increased by 17%, lower than the ... Read the full article

Singapore’s businesses face high risk and lower resilience: Beazley

4th November 2022

According to a recent Risk & Resilience research report from Beazley, Singapore business is more worried about risk and less resilient than its global peers. The report revealed that business leaders in Singapore display an admirable respect for the risks they face but at the same time, climate change needs to ... Read the full article

Fraudulent instruction claims are on the rise, says Beazley

1st November 2022

According to data released in Beazley’s new Cyber Services Snapshot report, fraudulent instruction as a form of cyber attack is on the rise, despite an overall decline in incidents. The data from the report suggests that professional service firms experienced more fraudulent instruction and almost as many business email compromise incidents ... Read the full article