Beazley

The London Market carrier has reported a 2023 stamp of £3.8bn for Syndicate 2623, its largest Lloyd’s vehicle.

She succeeds William Mills, who left his role as group head of ceded re and third-party capital for Allianz.

Beazley has successfully completed a £350mn ($417mn) fundraise to provide growth capital for targeting “attractive underwriting opportunities” in the market, especially cyber and specialty classes and property risks.

The London-listed carrier said that market dislocation could last for years and had created a strategic opportunity for the carrier.

The reinsurance market next year will be a “challenging environment”, which Beazley expects to “shift significantly”, according to CEO Adrian Cox.

The carrier said it was on track to reach a combined ratio in the “high 80s” this year.

LMA CEO Sheila Cameron, Patrick Tiernan, chief of markets at Lloyd’s and Beazley CEO Adrian Cox discussed the barriers facing female career progression in a webinar on Wednesday.

The executive will represent the Lloyd’s Market Association, having joined its board last year.

Alongside war and infrastructure failure exclusions, the wordings include sub-limits for two cyber catastrophe scenarios.

Business will be written directly into Syndicate 5623 from 1 January 2023.

The first six months have been characterised by substantial double-digit growth and further improvement in underwriting performance.

Plus this week’s top carrier results and need-to-know people moves.