Beazley
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The underwriter headed one of the largest hull and war books in the London market. -
Despite leaving the alliance, Beazley said it “remains fully committed” to its transition to net-zero.
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Guy Carpenter was the sole placing broker sourcing capacity for the tie-up.
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Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.
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Beazley CEO Adrian Cox told investors the carrier's cyber expectations remained “unchanged” for the year, despite predicting a slowing of growth into Q2.
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The carrier attributed its growth to a 56% increase in its property risks and 24% increase in its cyber business in the first quarter of the year.
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Reforms to the UK listing regime may enhance prospects of an insurance firm opting to IPO in London in future, but several broader problems, including liquidity issues, will also affect such a decision, according to industry sources.
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The cybersecurity professional has more than 20 years’ experience.
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The resolutions received 60.76% and 60.85% of votes, respectively, falling short of the 75% threshold needed to pass.
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A recent rise in ransomware incidents – along with pricing deceleration, attracting capital, and the Lloyd’s cyber war exclusions – were among the hot topics at Zywave’s cyber conference in London.
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The cross-line facility launch – in a generally firm market – suggests that the tech-driven era of facilitisation is continuing to gain pace.
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Details on Beazley’s cyber war product are yet to come to light, but there are questions outstanding on event definition, wordings and whether the market will follow.
