Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley report highlights employee risk as global executive’s biggest threat
25th October 2024
In a time characterised by hybrid work arrangements, evolving workplace cultures, and heightened attention to misconduct, a significant portion of global executives, approximately 23%, identify employer risk as the most prominent threat they face during the current year, a recent Beazley report has revealed. This represents an increase compared to 18% ... Read the full article
Beazley launches new combined coverage consortium for financial institutions
21st October 2024
Specialty insurer Beazley has launched a new combined consortium, FLEX, offering comprehensive civil liability, crime/fraud, and cyber coverage for financial institutions. The consortium provides a streamlined solution, addressing the full range of crime, professional, Directors & Officers (D&O), and cyber risks faced by these complex institutions. With coverage limits of up to ... Read the full article
Beazley, Munich Re, and Gallagher Re study reveals cyber market resilience
9th October 2024
Findings from a year-long collaboration between Beazley, Munich Re, and Gallagher Re indicate that the cyber insurance market can withstand a plausible yet remote malware event under current parameters. This information was released in a whitepaper that aimed at building a shared understanding of the potential systemic losses the cyber-insurance industry ... Read the full article
Beazley launches ‘Beazley Quantum’ to enhance cyber offering
8th October 2024
Specialty insurer Beazley has expanded its cyber capabilities with the addition of ‘Beazley Quantum’, a new cyber consortium that provides comprehensive cover for large corporates with up to $100 million limit. According to the announcement, the consortium will offer protection to substantial corporate entities with a turnover in excess of $1 ... Read the full article
Beazley forecasts cyber insurance market to grow to $40bn by 2030
2nd October 2024
Specialty insurer Beazley predicts that the cyber insurance market will grow from $15 billion in 2024 to $40 billion by 2030, driven by increasing demand due to rising cyber threats and costs, as the firm continues to manage its exposure amid premium growth. In its latest Cyber Risk Update, Beazley highlights ... Read the full article
Beazley appoints Bantick CUO, Greenwood named Beazley Furlonge Limited CEO
1st October 2024
Specialty insurer Beazley has appointed Paul Bantick as Chief Underwriting Officer (CUO), effective immediately, and Bethany Greenwood as Chief Executive Officer (CEO) of Beazley Furlonge Limited, the company’s Lloyd’s managing agency, subject to regulatory approval. Bantick is taking over the CUO role from Bob Quane, who is to retire. While the ... Read the full article
AI the biggest challenge facing digital health and wellness firms: Beazley
26th September 2024
Beazley, the specialist insurer, has revealed AI to be the biggest challenge facing digital health and wellness firms globally as they ramp up its integration into their systems. Beazley's Digital Health & Wellness 2024 report is a survey of 600 industry executives in six countries across Europe, North America and Asia ... Read the full article
New non-profit Humanity Insured aims to insure 3.6 billion people against climate disasters
19th September 2024
Humanity Insured, a new UK and US non-profit organisation, has launched with the mission of empowering vulnerable communities to become more resilient to the impacts of climate change through the use of effective insurance solutions. Howden, a global insurance intermediary, spearheaded the creation of Humanity Insured, bringing together key players from ... Read the full article
Businesses’ preparedness against cyber threats beginning to shrink: Beazley
10th September 2024
Beazley, a specialist insurer, has released its Risk & Resilience report, Spotlight on Cyber & Technology Risk 2024, which explores global business views on cybercrime, tech obsolescence, disruptions, and intellectual property risks amid rapid technological change. Over the past year, the cyber threat landscape has grown more challenging due to the ... Read the full article
Beazley appoints Swiss Re’s Chris Merl as Country Manager, DACH
4th September 2024
Specialist insurer Beazley has announced the appointment of Christopher (Chris) Merl as Country Manager for the DACH region (Germany, Austria, and Switzerland). In addition to this role, Merl will also serve as Head Partner Engagement, DACH. Based in Munich, he will focus on driving Beazley’s European strategy, with a strong emphasis ... Read the full article
Beazley delivers record H1 profit of $728.9m despite worlds largest IT outage
8th August 2024
London-headquartered insurer Beazley has announced a significant rise in its H1 2024 profit before tax, reaching $728.9 million, a sharp increase from the $366.4 million recorded in H1 2023, while the company's undiscounted combined ratio improved to 81%, down from 88% in the same period last year. These gains were achieved ... Read the full article
Beazley appoints Jessica Schappell as Head of APAC
29th July 2024
Specialist insurer Beazley has announced the appointment of Jessica Schappell as Head of Asia Pacific (APAC). In her new role, Schappell will report directly to Paul Bantick, Global Head of Cyber Risks at Beazley. She will be responsible for leading the APAC business to achieve Beazley’s growth plans in the region ... Read the full article
No change to current combined ratio guidance from global IT outage: Beazley
23rd July 2024
Beazley has noted that despite its position as a leading cyber insurer, the recent global IT outage event will not change its current undiscounted combined ratio guidance of low-80s for its full year 2024 results. For those unaware, the outage was caused by a security company called CrowdStrike, which sent out ... Read the full article
BI claims the likely focus of insured losses from Microsoft IT outage, say analysts
19th July 2024
Following today's Microsoft Cloud outage, analysts currently expect business interruption claims to drive the bulk of insurance industry losses, and question whether this could be the litmus test for cyber underwriters, notably UK headquartered, specialist insurer Beazley. One of the largest-ever IT outages hit companies across the world today, causing significant ... Read the full article
AM Best revises outlook for Beazley subsidiaries to stable
19th July 2024
Global credit ratings agency AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR), and also affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term ICR's of “a+” (Excellent) of specialist re/insurer Beazley’s subsidiaries. The subsidiaries include: Beazley Insurance Designated ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
