Reinsurance News

Beazley news

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

Beazley launches online incident response platform for US cyber

26th May 2022

Beazley has launched an online incident response platform for US cyber policyholders. The firm said that the platform will serve as a central location to monitor and manage incidents, and centralize communications between the policyholder, Beazley, and specialist service providers. Raf Sanchez, head of cyber services at Beazley, said: “As the cyber ... Read the full article

Beazley’s Adam Glasby joins Novidea as Programme Manager

26th May 2022

Global insurtech and provider of a cloud-based insurance distribution platform, Novidea, has named Adam Glasby as one of its new Programme Managers. Glasby, who started his career as a software developer for Reuters Information Systems, brings 20 years of London Market experience towards his new role. Most recently he served at Lloyd’s ... Read the full article

Cyber pricing acceleration expected to continue through H1: JP Morgan

9th May 2022

Analysts at J.P Morgan have stated that cyber insurance is one of the fastest growing markets within insurance with premiums growing at a 27% CAGR (2017-21), but despite the high growth in the class, analysts have said that profitability is strong, with an average combined ratio of 77% vs 100% ... Read the full article

Beazley reports better-than-expected results for Q1 2022

6th May 2022

Beazley is reporting a 27% increase in gross written premiums between Q1 2021 and Q1 2022. The firm said that these had been $971m last year, but recently went up to $1,229m. At the same time, renewal rates reached 17%, up one percentage point from the year before. However, it did ... Read the full article

Beazley, Cytora partner to streamline insurance for brokers & clients

29th April 2022

Leading global specialist insurer, Beazley, has partnered with London insurtech firm, Cytora to automate risk processing and accelerate profitable growth. By using the Cytora Platform, this will allow Beazley to streamline its global risk intake, as well reduce manual processes and uplift straight-through processing, which will help lead to a better ... Read the full article

Beazley has war exclusions in every cyber policy: J.P Morgan

27th April 2022

In a report released by J.P Morgan based on findings from a recent conference call with Beazley’s Global Head of Cyber & Technology, Paul Bantick, to discuss the specialist insurers cyber business, it states that Beazley has war exclusions in every cyber policy. The report adds that the exclusions have two ... Read the full article

Allianz latest to rule out insuring East African Crude Oil Pipeline

11th April 2022

Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article

Beazley hires Christian Taube as Head of Cyber, Intl.

4th April 2022

Specialist insurer Beazley has appointed Christian Taube as its new Head of Cyber Services – International, continuing the rapid expansion of its cyber team this year. Before joining Beazley, Taube was Chief Information Security Officer at Contentserv and, prior to that, he built the information security practice at DataGuard. Taube will be ... Read the full article

Beazley sets up new underwriting divisions, names leaders

30th March 2022

Beazley has announced the creation of four new interconnected underwriting divisions as part of its growth strategy, namely: Specialty Risks, Cyber Risks, MAP Risks and Property Risks. Bethany Greenwood will lead the Specialty Risks division, which also encompasses M&A and Executive Risks, with James Eaton supporting the transition in advance of ... Read the full article

Jefferies calculates aviation war losses could hit $1.5bn

29th March 2022

Jefferies has calculated that aviation war losses due to the Russia-Ukraine conflict could reach $1.5bn for the market. A new note from the financial services company points to recent pronouncements from the CEO of Lloyd’s of London that estimated insured losses were to be between 15% and 20% of asset values. ... Read the full article

Motus and Beazley team up for earthquake insurance

2nd March 2022

Broker firm Motus Insurance Services has added Beazley to provide an ‘elective earthquake program’ for residential and commercial associations. The program, according to a press release, is designed to bring all the benefits of a traditional master earthquake insurance policy to the more than 30,000 associations and 2.2m condo owners not ... Read the full article

Arch Insurance names Joe Morrello as SVP

28th February 2022

Arch Insurance, part of Arch Capital Group, has appointed Joe Morrello as Senior Vice President, E&S Property where he will oversee the expansion of Arch E&S Property through the company’s strong relationships with its broker partners and our decisions based on advanced analytics. Morrello is a seasoned property professional with years ... Read the full article

Beazley head of specialty lines to retire

23rd February 2022

Beazley’s head of specialty lines James Eaton is to retire at the end of the year. A statement from the insurer said that Eaton will remain in charge for the remainder of the year, with a succession plan to be announced later. Adrian Cox, CEO of Beazley, said: “James has played a ... Read the full article

Beazley, Chaucer, and Gaia team up for new IVF underwriting approach

14th February 2022

Beazley and Chaucer have been working with Gaia to design a new underwriting approach for IVF treatment within the UK. Gaia said that the product will be led by Beazley with further support provided by Chaucer and Atrium. Meanwhile, it has been appointed as a Lloyd’s Coverholder. George Beattie, head of incubation ... Read the full article

Beazley achieves 30% growth in GWP for 2021

10th February 2022

Specialist insurer Beazley has achieved double-digit premium growth, with gross written premiums (GWP) up by 30% to $4,618.9 million for the fourth year in a row, surpassing 2020, when the company reported $3,563.8m in GWP. The insurer also reported an improved combined ratio of 93% compared to 109%, which was reported ... Read the full article