Reinsurance News

Beazley news

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

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

Beazley adds Katie Hunter to Open Market Property team

8th February 2022

Specialist insurer Beazley has appointed Katie Hunter as Underwriter for the company’s Open Market Property division, where she will be based in the Bishopsgate office. Hunter is a seasoned property underwriter, bringing over 20 years' experience in the London Market to her new role. She started her career at re/insurer Brit before ... Read the full article

Beazley Digital goes live

7th February 2022

Beazley’s new digital hub that brings together underwriting, claims, technology, and operational experts into one team has gone live. The service, known as Beazley Digital, aims to provide digital access and services to a range of products for Beazley’s global broking partners. Ian Fantozzi, CEO of Beazley Digital said: “With technology playing ... Read the full article

Hardening cyber market shows no signs of slowing: Berenberg

25th January 2022

Analysts at Berenberg have reported that hardening conditions in the cyber re/insurance market show no signs of slowing down, as demand for coverage continues to outstrip supply. As of Q3 2021, rates were up 204% cumulatively over 12 months and, currently, and Berenberg sees no evidence that this momentum will be ... Read the full article

BoA predicts strong numbers for European reinsurers

24th January 2022

Bank of America (BoA) has said that reinsurers in Europe should post strong last-quarter numbers for 2021, saying that figures for that period may be higher than expected. The bank said it believes that a strong Q4 2021 will contrast well with the same period of the year before, which was ... Read the full article

Cyber landscape to increase in 2022: Beazley’s Raf Sanchez

12th January 2022

Beazley’s Head of Cyber Services, Raf Sanchez, has reported his predictions for the cyber insurance landscape for the following year, anticipating that it will likely increase. “Whilst many organisations know to expect short-term technical and operational impacts, we find they are often un-prepared for the longer lasting impact on their reputation,” ... Read the full article