Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley to work with DRC’s RS X Rating for Global Enterprise Rating
4th December 2023
Specialist insurer Beazley has selected Decision Research Corporation (DRC), a provider of enterprise software solutions for the Property and Casualty insurance industry, to help power its next generation of pricing tools. To do so, the London-based insurer will work with DRC’s RS X Rating as the Global Enterprise Rating technology. Troy Dehmann, ... Read the full article
Beazley sponsors debut two cat bonds in tandem, one cyber one nat cat
22nd November 2023
Specialist insurer Beazley is tapping the capital markets for reinsurance protection against cyber risks and named storm and earthquake losses with its first two Rule 144a catastrophe bond transactions. After sponsoring three private cyber cat bonds earlier this year, London headquartered Beazley has returned with its debut full 144a issuances, both ... Read the full article
Climate risk prompts Beazley’s proactive approach in property market: Matt Westhoff
15th November 2023
In an interview with Reinsurance News, Matt Westhoff, Head of North American Commercial Property at Beazley, outlined the company's robust strategy to navigate the complex landscape of climate change and its implications on the re/insurance market. Addressing the uncertainties of climate change, Westhoff underscored Beazley's commitment to a forward-looking model, emphasising ... Read the full article
Climate litigation risk a rising issue that we “need to consider” in our underwriting: Beazley’s Cox
7th November 2023
Adrian Cox, CEO of Beazley, speaking this morning in London at an AM Best event, explained how Beazley sees climate litigation risk as a rising issue that the company needs to consider in its underwriting. He stated that climate liability risk arises from parties that have suffered from loss or damage ... Read the full article
Beazley takes advantage of “exceptional” property market in 9M 2023
7th November 2023
Specialist insurer Beazley has reported insurance written premium growth of 9% to $4.3 billion for the first nine months of 2023, as the firm took advantage of opportunities in the property market. Net insurance written premiums rose 26% year-on-year to $3.5 billion in 9M 2023, as Beazley reports an overall year ... Read the full article
Brenna Westinghouse becomes Corporate Head of Strategy, Beazley
30th October 2023
London-based specialty insurer and reinsurer, Beazley, has appointed Brenna Westinghouse as Corporate Head of Strategy, effective November 1, 2023. She succeeds Rachel Turk, who is moving to Lloyd’s to serve as its Chief Underwriting Officer. At the same time, in her new role, Westinghouse will report to Beazley's CEO, Adrian Cox. Westinghouse brings ... Read the full article
Beazley’s first 144a cyber catastrophe bond expected by year-end
19th October 2023
London-based specialty insurer and reinsurer, Beazley, is set to follow up on its three private transactions with its first full 144a cyber catastrophe bond issuance by the end of the year, according to Artemis sources. Our insurance-linked securities (ILS) focused sister site, Artemis, reported earlier today that Beazley is close ... Read the full article
Beazley’s new E&S carrier gets AM Best rating
17th October 2023
AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) to newly formed Beazley Excess and Surplus Insurance, Inc. (BESI), a wholly owned subsidiary of Beazley Holdings, Inc., a non-operating holding company of Beazley. The outlook assigned to ... Read the full article
Beazley facility backs BDI Global and Havoc Shield cyber product
11th October 2023
BDI Global, a cyber policy program manager, in partnership with Havoc Shield, a comprehensive cybersecurity program-as-a-service built for SMBs, have announced the launch of a new cyber product, Shield Up. The program, supported by a Beazley facility, is a cyber risk assessment and remediation platform designed to make cyber liability insurance ... Read the full article
Beazley introduces parametric tornado disaster benefit insurance
31st August 2023
Specialty insurer Beazley has introduced the first admitted parametric tornado disaster benefit insurance for homeowners, in partnership with Sola Technologies and Spinnaker Insurance Company. The innovative Tornado Crisis product leverages National Weather Service (NWS) data to automatically initiate a fast and straightforward claims process. Neil Kempston, Head of Incubation Underwriting at Beazley, ... Read the full article
Beazley expands Incubation Underwriting team with Amy Ing’s appointment
21st August 2023
Joining from Liberty Specialty, Amy Ing has been appointed to Beazley’s Incubation Underwriting team, which focuses on discovering, designing and underwriting breakthrough new solutions and partnerships. Since its formation in 2020 the team has developed and collaborated on a range of new solutions, including Beazley’s Reputational Risk insurance policy, Assureful for ... Read the full article
Beazley CFO Sally Lake to exit the company in 2024
10th August 2023
Beazley has announced that its Chief Financial Officer (CFO) Sally Lake has informed the Board of her intention to leave the company in 2024, after serving in the position for five years. Prior to taking on the CFO role, Lake served as Group Actuary for five years, having previously held the ... Read the full article
Long-term opportunity in property insurance: Beazley’s Adrian Cox
27th July 2023
With climate change and growing inflation as a backdrop, the opportunity in property insurance is expected to be a long-term one with pricing more adequate than in property reinsurance, said Beazley CEO Adrian Cox. Speaking earlier during the specialist insurer's H1 2023 earnings call, Cox said: "We do think that the ... Read the full article
Beazley reports strong growth in H1 2023 on the back of “excellent” property market conditions
27th July 2023
Specialist insurer Beazley has reported robust growth in the first half of 2023, reporting a 13% increase in gross premiums written (GPW) to $2.9 billion. Alongside strong GPW growth, Beazley has announced a significant rise in net premiums written (NPW) for the period of 28% to approximately $2.3 billion. Much of the ... Read the full article
AM Best revises outlook for Beazley subsidiaries to positive
17th July 2023
Global rating agency AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and also affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of specialist re/insurer Beazley's subsidiaries. The subsidiaries include Beazley Insurance Designated Activity Company ... Read the full article
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