Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley names Lucien Mounier as Head of Europe, Cyber Risks
2nd July 2024
Specialist insurer Beazley has appointed Lucien Mounier as Head of Europe, Cyber Risks. Reporting to Alessandro Lezzi, Head of International Cyber Risks, Mounier will be responsible for the establishment and oversight of Beazley’s cyber portfolio and team across Europe. Having served as Beazley’s Head of Asia Pacific (APAC) for six years, ... Read the full article
Beazley Security goes live as an integrated cyber risk management firm
25th June 2024
Beazley Security has gone live as an integrated cyber risk management company following the merger, announced in February 2024, of Beazley’s in-house cyber services team and its wholly owned cyber security company, Lodestone. Beazley Security has launched with an expanded portfolio of services, including a new Managed eXtended Detection & ... Read the full article
Beazley appoints Barbara Plucnar Jensen to its Board as CFO
22nd May 2024
Specialty insurer Beazley has announced the appointment of Barbara Plucnar Jensen to its Board as Chief Financial Officer (CFO). Adrian Cox, Beazley's CEO, previously mentioned this during the firm's full-year results, stating, “I am pleased that Barbara Plucnar Jensen will become our CFO on 1 May 2024, the depth and ... Read the full article
There is plenty more to come for the Cyber ILS market: Norris, Gallagher Securities
20th May 2024
With Beazley securing an additional $160 million of reinsurance with its second 144A cyber catastrophe bond, PoleStar Re Ltd. (Series 2024-2), as we reported last Friday, Theo Norris, Head of Cyber ILS, Gallagher Securities, has said that there is "plenty more to come for the Cyber ILS market." Gallagher ... Read the full article
Beazley secures additional $160m of reinsurance with second 144A cyber cat bond
17th May 2024
London headquartered insurer Beazley has sponsored its second 144A cyber catastrophe bond, securing an additional $160 million of capital markets-backed cyber reinsurance coverage via a PoleStar Re Ltd. (Series 2024-2) issuance, as reported by Artemis, our insurance-linked securities (ILS) focused sister publication. Artemis has learned from sources that this ... Read the full article
Melissa Carmichael assumes leadership as Beazley’s Head of US Cyber
16th May 2024
Following Patricia Kocsondy's move to Beazley's Head of Global Cyber Digital Risks in January, Melissa Carmichael steps into the role of leading Beazley's US Cyber division. Beazley has announced today the appointment of Carmichael as the new Head of US Cyber, effective immediately. Carmichael, based in New York, will report directly ... Read the full article
Beazley’s Q1 insurance written premiums increase 7% to $1.48bn
29th April 2024
Specialist insurer Beazley has revealed that insurance written premiums in Q1 of 2024 increased by 7% compared to the previous year, reaching $1.48 billion. Adrian Cox, Beazley's Chief Executive Officer, noted that it has been a "solid start to the year" with the firm demonstrating its ability to grow whilst exercising ... Read the full article
Lloyd’s Syndicate Ki expands digital follow capacity with Beazley partnership
28th March 2024
Ki, the digital and algorithmically driven Lloyd’s follow platform, has entered into a multi-year partnership with Beazley by adding the insurer’s capacity to its platform. This partnership will include Ki offering additional follow capacity from Beazley syndicate 2623/623 through its digital platform from 2 April 2024. Having grown significantly since its launch ... Read the full article
Beazley reports CoR of 71% and record profit in 2023
7th March 2024
Specialist insurer Beazley has announced record pre-tax profit of $1.25 billion and a combined ratio of 71% for the year ended December 31st, 2023, with strong growth in the insurance service result of 52% and an investment return of 4.9%. Group profit after-tax rose 112% from 2022's $483 million to $1.026 ... Read the full article
Beazley lays out additional shareholder capital return for 2023 of $300m
22nd February 2024
Following a solid year, specialist insurer Beazley has revealed that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, anticipated to be around $300m. The firm has also provided an update to guidance on its undiscounted combined ratio, which has reportedly improved from ... Read the full article
Beazley creates integrated cyber risk management company, Beazley Security
21st February 2024
Specialty insurer Beazley has announced the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley explained that the new company integrates the risk management services provided as part of a cyber insurance policy with Lodestone’s ... Read the full article
Gallagher Re expects more cyber cat bonds in 2024
21st February 2024
Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of PoleStar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe bond for specialty re/insurer Beazley. Gallagher Securities’ served as the sole structuring ... Read the full article
Beth Diamond to lead claims and litigation team at Beazley
24th January 2024
Specialist insurer Beazley has announced the appointment of Beth Diamond as Group Chief Claims and Litigation Officer. In her expanded role she manages an industry-leading team servicing claims from a diverse variety of specialty insurance lines. Additionally, she leads in the development of an oversight model for all litigation matters and processes, ... Read the full article
Beazley ‘delighted’ to sponsor first 144A cat bond via the Lloyd’s London Bridge platform
8th January 2024
The world's oldest insurance and reinsurance marketplace, Lloyd's, has confirmed the issuance of the first 144A catastrophe bond transaction via London Bridge 2 PCC Limited, the Beazley sponsored $100 million transaction. The deal, which is listed in the Artemis Deal Directory, is the first 144A property catastrophe bond sponsored ... Read the full article
Beazley successfully closes its first 144A cyber catastrophe bond
2nd January 2024
Specialist insurer Beazley, has closed its first 144A cyber catastrophe bond providing cover of $140 million. This marks Beazley’s first inaugural 144A bond and builds on its $81.5 million cyber catastrophe bond programme of 2023. The PoleStar Re Ltd. Series 2024-1 Class A cyber catastrophe bond notes cover Beazley for ... Read the full article
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