Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley highlights shifting expectations of insurance partners
22nd July 2021
Specialist insurer Beazley has released a report highlighting an increase in the rising level of expectations clients have of their insurance partners. Beazley’s findings are based on research involving 1,000 senior executives and insurance buyers in the US and UK, from across 10 industry sectors. The report says homogenised policies and a ... Read the full article
Beazley adds HSBC’s Dehmann as COO
12th July 2021
Specialist re/insurer Beazley has appointed 20-year industry veteren Troy Dehmann to serve as Chief Operating Officer (COO). His appointment follows former COO Ian Fantozzi’s transition to lead Beazley’s recently established digital business unit. Dehmann most recently served in a similar role for Finance Operations and Core Finance at HSBC. Before that he held ... Read the full article
Beazley launches nutraceutical-focused insurance solution
12th July 2021
Specialist insurer Beazley has launched a new insurance product available to companies active at all points of the nutraceutical industry value chain. NutraGuard has been designed as a way for nutraceutical manufacturers and distributors to secure cover for liability, general liability, errors and omissions (E&O), product recall expense, employee benefits liability ... Read the full article
Spring Partners hires Emma Stanford as Lead Underwriter
8th July 2021
Spring Partners, a joint venture from broker Aston Lark, has appointed Emma Stanford as Lead Underwriter. Stanford brings a wealth of experience in the Financial Lines Industry, most recently as Head of UK Financial Institutions at AXA XL. Spring has also confirmed that its capacity support for Financial Institutions with Beazley has ... Read the full article
Prince Charles launches industry-led climate change task force at Lloyd’s
24th June 2021
HRH The Prince of Wales has launched his Sustainable Markets Initiative (SMI) insurance task force today during a visit to Lloyd’s of London. Chaired by Lloyd’s, the task force is composed of executives from many of the world’s largest re/insurers and aims to provide an influential platform for the sector to ... Read the full article
Beazley reports growth in premiums to $971mn; 16% rate increase
13th May 2021
Specialist insurer Beazley has reported a 16% rise in gross premiums written (GPW) to $971 million for the first quarter of 2021, alongside premium rates on renewal business that came in above expectation. Rate momentum on renewal business saw an increase of 16% during Q1 2021, compared with 8% for the ... Read the full article
Beazley partners with Ardonagh for cross class follow capacity solution
16th April 2021
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist, reinsurance and wholesale broking brands, has partnered with Beazley for a cross class follow capacity solution that will exclusively benefit Price Forbes clients across multiple classes. The arrangement will see the Beazley Smart Tracker follow pre-approved ... Read the full article
London Market insurers’ 2020 profits cancelled out by Covid losses, says Fitch
31st March 2021
A majority of London Market insurers are reported by Fitch Ratings to have fallen to either a loss or a very slight profit in 2020, as pandemic-related costs offset most underwriting and investment profits. Despite investment returns having recovered well in the second half of 2020, Fitch states that returns were ... Read the full article
Beazley launches D&O product suite for SPACs
10th March 2021
Specialist insurer Beazley has launched a directors’ and officers’ (D&O) product suite designed specifically for Special Purpose Acquisition Companies (SPACs). The new D&O products for US-domiciled SPACs offer dedicated coverage for either the individuals, or the entity and individuals combined, from the initial public offering (IPO) to the initial business combination. Jim ... Read the full article
Beazley names Praesidium as provider for Safeguard policyholders
5th March 2021
Specialist insurer Beazley has named Praesidium as its provider of enhanced risk management, prevention, and response services for Beazley Safeguard policyholders. The Beazley Safeguard policy combines risk management and crisis response for primary insureds with effective insurance coverage to reduce the risk of sexual abuse occurring within organisations and to respond ... Read the full article
Beazley CEO Horton to depart, move to QBE Insurance as Group CEO
3rd March 2021
Beazley plc, the specialty insurance and reinsurance company, has announced this morning that its CEO Andrew Horton has revealed his intention to step down and depart the firm, for a move to become Group CEO of QBE Insurance Group Limited in Australia. Horton will remain in his post with Beazley until ... Read the full article
Beazley forms new digital business unit
26th February 2021
Specialist insurer Beazley has announced the creation of a new digital business unit, which is intended help the company to reformulate its approach to developing and underwriting digital insurance solutions. Existing digital initiatives and platforms created to further Beazley’s digital capabilities will now be led by a multi-disciplinary team headed up ... Read the full article
Beazley expands to write DWP, Safeguard in US
18th February 2021
Specialist insurer Beazley has bolstered its US underwriting team with the appointments of Lindsey Fyfe and Kyle Rolf. Both Fyfe and Rolf will write Deadly Weapons Protection and Safeguards, standalone insurance products designed to offer critical prevention and crisis response services. Fyfe joins Beazley from Risk Placement Services in Georgia where she ... Read the full article
Beazley expects reinsurance disputes after Supreme Court ruling, says Horton
5th February 2021
Andrew Horton, Chief Executive Officer (CEO) at Beazley, has said the company is expecting disputes around reinsurance coverage following the Supreme Court's ruling on business interruption (BI) losses linked to COVID-19 in the UK. Speaking during a Q4 earnings call, Horton explained that there has been a long-held expectation in the ... Read the full article
Beazley’s combined ratio deteriorates to 109% on COVID & ransomware
5th February 2021
Beazley has reported that its combined ratio deteriorated to 109% in 2020 on the back of first-party COVID-19 losses and elevated ransomware reserves, as the firm announces a loss before tax of $50.4 million for the year. The more than $50 million loss for the period compares with profit before tax ... Read the full article
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