Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Economic impact of cybercrime on business predicted to reach $10.5 trillion by 2025: Cybersecurity Ventures
13th July 2023
The threats that are posed by new technologies such as artificial intelligence (AI), which had consistently reduced since 2021, is now predicted to be a growing threat for the next 12 months ahead, according to Beazley's latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. The report highlighted ... Read the full article
Beazley ESG Consortium continues growth as capacity moves to follow syndicate 5623
10th July 2023
Specialist insurer Beazley has unveiled the next phase of its ESG consortium, with Beazley’s dedicated ESG capacity being provided solely by 5623 from 1st January 2024, subject to regulatory approval Through the combination of its size, cost effectiveness and expertise as a leading follow syndicate, 5623 is "well placed" to deliver ... Read the full article
Amwins Global Risks launches Amwins Amplify alongside Beazley
19th June 2023
Amwins Global Risks, the international arm of global specialty insurance broker Amwins and one of the largest independent wholesale brokers in London has announced the launch of Amwins Amplify. This is a new automated follow-form facility led by Beazley's Smart Tracker Syndicate 5623. Amplify is led by John Andrews and Tom ... Read the full article
Ransomware trends on a rise, but Beazley well positioned to maintain growth: Paul Bantick
7th June 2023
Ransomware trends are on the rise but Beazley does not see its portfolio being affected as the company is well positioned to maintain growth and deliver strong profitability, specialist re/insurer Beazley's Paul Bantick said on a call held with JP Morgan analysts. Bantick, Global Head of Cyber & Tech at Beazley, ... Read the full article
Beazley & Arbol launch parametric weather products for the US market
25th May 2023
Arbol, a global climate risk solutions platform, and leading insurer, Beazley, have announced the launch of specialist parametric weather products to the US market. With the launch this now means that cutting-edge products are available for a range of perils, including low and excess precipitation, low and excess wind speed, high ... Read the full article
Beazley sponsors second cyber cat bond, secures $20m more reinsurance
25th May 2023
Specialty insurer and reinsurer, Beazley, has sponsored its second cyber catastrophe bond, adding $20 million of additional reinsurance protection via the issuance of Cairney II, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. In January, Beazley became the first to sponsor a cyber catastrophe bond when ... Read the full article
Miller hires Beazley’s Kate Enright as Head of Data
25th May 2023
Re/insurance broker Miller has appointed Kate Enright as Head of Data. As Head of Data, Enright will be responsible for building out the firm’s data and analytics capability, to effectively unlock data value, as well as drive new client solutions, and support Miller in implementing its strategic ambitions. She joins Miller from ... Read the full article
Beazley report urges layered cybersecurity strategies to combat surging software vulnerability exploitation
17th May 2023
Specialist re/insurer Beazley has released its latest Cyber Services Snapshot report, emphasising the critical importance of implementing a layered "Defence in Depth" cybersecurity strategy to safeguard organisations against the escalating exploitation of software vulnerabilities. The report presents a comprehensive analysis of global incidents handled by Beazley's Cyber Services, shedding light on ... Read the full article
Beazley launches new medical insurance product for the US and UK market
16th May 2023
Specialist insurer Beazley has announced the launch of its streamlined Miscellaneous Medical Liability insurance product called "MiscMed" for the US and London markets. Beazley’s MiscMed product provides protection for medical professional liability exposures arising out of a wide range of healthcare-related businesses. The product includes significant enhancements to wording. John Livatino, the ... Read the full article
Beazley’s Q1 GWP rise 12% driven by solid growth in cyber & property lines
12th May 2023
Specialist re/insurer Beazley has reported that Q1 2023 gross written premiums increased by 12% YoY to $1.37 billion as the firm remains "confident of delivering strong growth and profitability." According to Beazley, its Cyber Risks class performed well with 24% growth in Q1 ($280 million of GWP), reflecting expansion in Europe ... Read the full article
Beazley’s Lodestone hires its new Chief Executive Officer
9th May 2023
Beazley’s wholly-owned subsidiary, global cybersecurity firm Lodestone, has announced the hire of Alton Kizziah as its new Chief Executive Officer. Lodestone specialises in incident response, digital forensics, offensive security, and threat detection. Kizziah is an information security expert. In his new role, he will focus on expanding the senior leadership team, adding ... Read the full article
Energy transition concerns deflecting focus from climate: Beazley
27th April 2023
New data from specialist re/insurer Beazley suggests that short-term concerns about the energy transition may be deflecting focus away from climate change as the environmental issue of most concern. However, Beazley’s survey of 2000 senior business leaders also shows that the long-term threat that climate change poses is rising to the ... Read the full article
Specialty reinsurers’ combined ratios may be ‘too conservative’: RBC Capital Markets
18th April 2023
RBC Capital Markets said specialty reinsurers' combined ratios may be "too conservative" due to factors such as conservative reserving, rebuilding reserve buffers, and higher investment returns which could offset weaker underwriting returns. Insurers are expected to report strong solvency positions and detail any relevant asset exposures, with a focus on the ... Read the full article
Beazley improves UW result as profits dip on investments
2nd March 2023
Specialist insurer and reinsurer Beazley has reported a 48% dip in profits for 2022 as a poor investment performance offset improvements in its underwriting result. Beazley’s profit before tax for the year came to $191.0 million, compared with $369.2 million for 2021. This was due to a net investment loss of $179.7 ... Read the full article
Beazley appoints Bannister as Chair Designate
13th February 2023
Following the conclusion of an external search, Beazley has announced the appointment of Clive Bannister as Chair Designate and a non-executive director. On 21 July 2022, the firm announced that David Roberts would be standing down as Chair in the autumn of 2022 to take up the role as Chair of ... Read the full article
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