Beazley
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Stephan Simon left BMS in June 2024 after almost three years in the role. -
The carrier plans to reduce 623’s stamp by around 10% next year.
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Plus, the latest people moves and all the top news of the week.
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Top line grew across all carriers even as pre-tax profits dipped.
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The London carrier missed consensus on gross and net premiums for H1.
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The carrier booked top-line growth of 2% in H1.
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Rates were down 3.9% across its portfolio in the first half of 2025.
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The Beazley CUO said geopolitics would determine cyber market pricing.
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The executive’s career includes a stint as head of cat for CorSo.
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Beazley, Hiscox and Lancashire all grew in Q1 despite widespread rate decreases.
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Plus, the latest people moves and all the top news of the week.
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CEO Adrian Cox said the market could turn on “unexpected events”.
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Cyber and property experienced the largest price reductions.
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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
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Ki cut its top line by 8.7%, while Beazley’s smart-tracker expanded to $481mn.
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The transactional liability-focused MGA's Lloyd’s line is up from £37.5mn to £40mn.
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Hiscox, Beazley and Lancashire all reported top line growth, but ROEs dipped in an active wind season.
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Plus, the latest people moves and all the top news of the week.
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He said that “everyone’s looking for growth”, as the firm has moderated its top line projections.
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Predicting underwriting conditions for the remainder of the year is ‘challenging’.
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The London carrier posted an undiscounted combined ratio of 79%, up from 74% in 2023.
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Lloyd’s CEO pay is lowest compared to major LSE-traded specialty insurers by a considerable margin.
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Sara Foucher has held roles at RSA, Swiss Re and XL Catlin.
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Fast Track is led by QBE and backed by Canopius, Arch and Beazley.
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The executive has also worked for AIG and Ace.
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The underwriter will report to group CUO Paul Bantick.
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A spree of new entrants in the cargo market has resulted in recent talent turmoil.
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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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Some US and European cedants will likely see "specific adjustments" to their programmes.
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The carrier said an active hurricane season and a global cyber event had not altered its full-year guidance.
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The Flex consortium will offer up to EUR/$50mn limit.
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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Paul Bantick will continue to oversee the cyber risks division during the search for his successor.
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Sources said that for reinsurers to meet this demand, they will need to get comfortable analysing and evaluating systemic and aggregate risk.
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The carbon market is viewed as a potential growth class for insurers.
