Beazley

Beazley cyber GWP up 24% in Q1 despite tougher wordings

Lloyd’s largest insurer Beazley said this morning it is on track to deliver its “high 80s” combined ratio target following a first quarter which saw strong growth in both property and cyber lines.

Lloyd’s max size rule now $10bn+ GWP as Beazley rockets to new market record

A (re)insurer can now write up to £8.4bn ($10.6bn) GWP on the Lloyd’s platform before it breaches the market’s 15 percent maximum size rule, analysis by The Insurer shows.

Beazley cybersecurity subsidiary Lodestone names Kizziah as CEO

Cybersecurity firm Lodestone Security, a wholly-owned subsidiary of Lloyd’s (re)insurer Beazley, has appointed Alton Kizziah as CEO.

Beazley survey shows firms unprepared for long-term impacts of climate change

A survey by Beazley has revealed an increasing number of global companies feel exposed or unprepared for the risks posed by climate change.

Beazley fails to garner shareholder support for special resolutions at AGM

Beazley failed in its attempts to secure shareholder support for two special resolutions at its annual general meeting on Tuesday, with investors rejecting proposals relating to the disapplication of pre-emption rights.

Lloyd’s five largest managing agents account for 30% market share

Beazley’s robust growth in recent years has seen the company build market share to almost 10 percent of Lloyd’s GWP, with the premium base across the group’s syndicates growing 28.8 percent to more than £4.5bn ($5.6bn) in 2022.

Beazley rolls out simplified wording for London market and E&S public D&O

Beazley has announced a refreshed primary US public D&O wording, available both in the London market and on a surplus lines basis in the US.

Beazley 2623 maintains 91% CR with rates up 13% across portfolio

Beazley’s flagship Syndicate 2623 has posted a combined ratio of 91 percent for the second successive year.

Beazley looks to develop climate metrics for UW and investments in 2023

Beazley is looking to develop more metrics to measure progress against its climate risk strategy in 2023, building on the existing approach of its working group to embed climate matters into underwriting processes, according to the firm’s annual report.

Beazley and Scor lead declines as European (re)insurance shares dip

Beazley closed ~6 percent lower on Monday amid a general downward trend for industry shares following the failure of Silicon Valley Bank.

Beazley cuts CEO and FD pay on full-year NAV “error”

Beazley has clawed back almost £250,000 it says was incorrectly awarded to CEO Adrian Cox and finance director Sally Lake after it was revealed the London-listed (re)insurer had used the wrong number of shares to calculate the executives’ pay packages.

Beazley “more likely” takeover target following cyber strategy shift: KBW

Lloyd’s insurer Beazley’s moves to raise the retentions on the cyber business it writes have made the company “a more likely” takeover target by global reinsurers, KBW analyst Darius Satkauskas believes.

Beazley 623 reports 92.4% CR for 2022

Beazley Syndicate 623 has posted a 92.4 percent combined ratio for the 2022 calendar year.

Jefferies lifts Beazley target price; says share price reaction “overdone”

Jefferies has raised its price target for London-listed Beazley by more than 12 percent, with analysts expressing surprise at the “overdone” negative reaction in the firm’s share price despite reporting a consensus-beating performance in its full-year trading update on Thursday.

Beazley shares close 5% lower as pre-tax profit halved in 2022

Shares in London-listed Beazley closed 5.1 percent lower on Thursday after the Lloyd’s blue chip reported a 48 percent drop in net profit in 2022 as it took a hit from investment losses.

Beazley’s Cox: Market will reach “equilibrium” on cyber war but transition will be messy

Beazley CEO Adrian Cox has thrown his weight behind Lloyd’s imminent clampdown on state-sponsored cyber risks but warned that the transition to the new exclusions will be “disorderly” and “messy”, raising the possibility that Lloyd’s may lose market share in the short term.

Beazley beats consensus with $191mn profit and 89% CR in 2022

London-listed Beazley has reported a profit before tax of $191.0mn for the full year 2022, materially ahead of analyst consensus despite net investment losses of $179.7mn driven by mark-to-market losses as a result of the volatile interest rate environment.

Beazley names former Phoenix Group CEO and HSBC exec Bannister chair-designate

Beazley unveils new PE liability policy for D&O risks

Beazley has launched a new private equity liability insurance product designed to cover D&O risks within the long-term lifecycle of portfolios held by private equity firms.

Swiss Re promotes Arquint as Beazley swoops for EMEA CorSo head Kleiterp

London-listed Beazley has appointed Fred Kleiterp as European general manager as the carrier targets growth on the continent, with the CEO for EMEA at Swiss Re Corporate Solutions replaced in the role by chief risk officer Nina Arquint.

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