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