Beazley
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The lawsuit builds on prior findings by the state’s Supreme Court that coronavirus is a natural disaster.
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Beazley stock rises more than 9 percent following its issue.
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The syndicate would use a concept for automated placement developed by the former CTMA CEO. -
The firm sold 78.5 million shares at 315 pence to support expansion and bolster its balance sheet.
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CUO Adrian Cox takes the largest slice among management as the (re)insurer equips itself for expansion.
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The carrier opts not to pay a dividend for the six months ending 30 June.
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The carrier appoints two underwriters in London and expands its capability in Germany, Singapore and Denver.
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Florian Beerli, Angela Ives, Jae Park and Alex Marti join the carrier from Chubb.
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Uncertainty about future mass gatherings has reduced the number of clients coming to the market.
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In an earlier-than-expected trading update, Beazley estimates net $170mn exposure to the pandemic, excluding liability lines.
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In an earlier-than-scheduled Q1 trading update Beazley says premiums rose 13 percent, while rates climbed 8 percent.
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The entity will provide reinsurance for its syndicates across financial lines, cyber, political risk, terrorism and marine.
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