Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
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
Michèle Horner appointed Country Manager for France & Monaco, Beazley
4th July 2024
Specialist insurer, Beazley, has appointed industry veteran Michèle Horner as Country Manager for France and Monaco, where she will be based in Paris, effective immediately. In the role, Horner will be expected to focus on developing Beazley's business in France, while also retaining her current role within the Distribution Team as ... Read the full article
Beazley names Sam Franks Country Manager for UK & Ireland
3rd July 2024
Specialist insurer Beazley has announced the appointment of Sam Franks as Country Manager, UK & Ireland, effective immediately. In his new role, based in Birmingham, Franks will focus on the development of Beazley’s UK and Irish regional business outside the Lloyd’s market. At the same time, he will also retain his current ... Read the full article
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
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