Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Cyber requires significant investment in underwriting: Beazley
4th January 2022
Specialist insurer Beazley recently hosted a small group meeting with Paul Bantick, Global Head of Cyber and Technology, and Sarah Booth, Head of IR, which focused on cyber insurance. According to the insurer, cyber requires significant investment in underwriting and data analytics and cyber experts, but will generate attractive returns. It believes ... Read the full article
Profitable growth is back: Beazley
2nd December 2021
Beazley has released a new report which shows a good outlook for profitable growth in the short and medium term. The report noted that the outlook for growth in 2022 has improved in comparison to six months ago. Its margin has returned to the business as the combined ratio is now trending ... Read the full article
Environmental issues are not a business priority: Beazley
23rd November 2021
According to a new report from Beazley, environmental issues are bottom of business leaders’ concerns and set to fall further in 2022. The report shows that only 12% of business leaders across ten industry sectors in the UK and US rank environmental concerns as their top risk category in 2021, falling ... Read the full article
Beazley rolls Product Recall insurance out to Canadian market
17th November 2021
Specialist insurer Beazley has expanded its portfolio in Canada with the launch of its Product Recall product offering to the national market. The new range includes coverage for three different product offerings and will be available throughout Canada. Underwriter Evan Pollock joined Beazley as Lead Product Recall Underwriter last month, bringing experience ... Read the full article
Beazley’s 9M 2021 GWP growth exceeds expectations
5th November 2021
Specialist insurer Beazley has reported higher than expected gross written premiums (GWP) for the first nine months of the year, as well as a year to date rate change of 23% across the business. For the nine month period ended September 30th, 2021, Beazley has announced GWP of roughly $3.3 billion, ... Read the full article
Beazley adds Hiscox’s Simon Wilson to lead Open Market business
21st October 2021
Beazley has appointed Simon Wilson to serve as its Head of Open Market, a London-based role that involves directing and managing teams within the Property team and providing insight on market issues. Wilson is described as a seasoned underwriter and achieved success with Primary and Excess Property D&F products. He will join ... Read the full article
Beazley receives in principle approval to launch Lloyd’s first ESG syndicate
18th October 2021
Specialist insurer Beazley has received in principle approval from Lloyd’s to establish Syndicate 4321 from the start of next year. The syndicate will focus exclusively on offering additional capacity to businesses that perform well against ESG metrics and will be led by Will Roscoe, Head of the Market Facilities Division. Syndicate 4321, ... Read the full article
Beazley names AXIS Capital’s Bob Quane CUO
24th September 2021
Specialist insurer Beazley has appointed Bob Quane to serve as its Chief Underwriting Officer (CUO), a role he brings 30 years' industry experience to. Quane joins from AXIS Capital, having served as CUO within its insurance segment. Based in New York, he starts October 11 and is also set to join Beazley’s Executive ... Read the full article
Beazley promotes Rachel Turk to Group Head of Strategy
22nd September 2021
Specialist insurer Beazley has appointed Rachel Turk to the newly created position of Group Head of Strategy, a role which sees her join the firm's executive committee with immediate effect. Turk joined the company back in 2009 as a D&O underwriter in Specialty Lines, later becoming Focus Group Leader in 2015, ... Read the full article
Beazley names Raf Sanchez as Global Head of Cyber Services
16th September 2021
Specialist insurer Beazley has appointed Raf Sanchez as its new Global Head of Cyber Services. Sanchez, currently International Manager of Beazley Breach Response Services, assumes his new Global Head of Cyber Services role next month and will continue to be based in London. Paul Bantick, Global Head of Cyber & Technology at ... Read the full article
Beazley hires Patricia Kocsondy as Head of US Cyber & Tech
17th August 2021
Specialist insurer Beazley has appointed Patricia Kocsondy as Head of US Cyber & Tech. Kocsondy joins from Chubb, where she served as senior vice president, errors & omissions (E&O) and cyber underwriting, for Chubb Limited’s North American Financial Lines. In her previous role, she was responsible for strategic leadership and direction, portfolio ... Read the full article
Beazley sells benefits business to Globe Life
3rd August 2021
Specialist insurer Beazley has sold its benefits business to Globe Life as the acquirer seeks to enhance its reach in the worksite marketplace. Beazley Benefits specialises in customised supplemental health solutions for the employee benefits market, with a product line that includes Supplemental Medical, Group Limited Indemnity, Critical Illness, Short Term ... Read the full article
Berenberg considers Beazley a rare opportunity for profitable growth
26th July 2021
Beazley has made strides to convince the market that cyber insurance’s profitable growth can be restored, while also addressing some uncertainty surrounding a potential $50 million in additional COVID-19 losses, according on to a Berenberg report. Beazley confirmed in its H121 results that its $340 million COVID-19 loss estimate for 2020-21 ... Read the full article
Beazley secures significant rate increases off ransomware rise
26th July 2021
Beazley has been described during a recent roundtable as having achieved good rate increases across all classes, platforms and territories during H1 2021, with most significant hardening in cyber in response to ransomware. Ransomware, and cyber crime more generally, was described as both a societal as well as an insurance issue. Beazley ... Read the full article
Beazley returns to profit as all divisions achieve rate rises in H1 2021
23rd July 2021
Specialist insurer Beazley has reported profit of $167.3 million for the first half of 2021 against a loss of $13.8 million in the prior year period, as the firm achieved good rate increases across all classes, platforms and territories. For the first half of the year, Beazley has reported solid growth ... Read the full article
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