Beazley
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The partnership will add more capacity on the platform from April.
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For the 2022 year of account, the updated forecast remains unchanged.
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Hiscox, Beazley and Lancashire all delivered one-off capital returns while swerving casualty issues.
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The carrier reported $1.2bn profit and 71% CoR for 2023.
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Beazley was one of the first four cyber cat bond sponsors.
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Beazley also confirmed the appointment of CFO Barbara Plucnar Jensen.
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Slipstream will be available to marine, cargo and logistics UK clients.
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Beazley is expected to announce its year-end results on 7 March.
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The MGA previously hired Sara Valentine from Brit to launch in energy.
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Koscondy will set the global production and distribution strategy of all of Beazley’s cyber business sub-$250mn.
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Aidan Flynn said that although different markets are expected to move at different speeds, the underlying trend is clear.
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Growth opportunities at Lloyd’s no longer limited to top underwriting performers, Insurance Insider’s survey shows.
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Cat losses were within budgets despite high levels of minor events.
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CEO Adrian Cox said the market has continued to soften more than Beazley initially anticipated.
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The carrier attributed growth in the division to "exceptional" conditions in the property market throughout the year.
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Brenna Westinghouse joined Beazley in 2017 after 14 years at Marsh.
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The rating reflects “the entity’s role and strategic importance to Beazley as an excess and surplus writer in the United States”, AM Best said.
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The proposals, published in July, would have placed additional reporting burdens on large UK firms.
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The carrier is looking to grow its direct underwriting capabilities, focussing on the offshore wind market.
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Panellists at the Dive In Festival explored the link between innovation and inclusion and why it's important to them as leaders in their respective fields.
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The attack came from a hacking group known as Scattered Spider, an affiliate of the ALPHV/BlackCat ransomware gang.
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The carrier increased gross written premiums by 13% to $2.92bn, while the combined ratio deteriorated by 13 points from a prior-year figure of 71%.
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London’s major carriers have projected bullish messages on a prolonged hard market for property, while acknowledging other classes are in very different cycles.
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Sally Lake has spent 18 years at the carrier, including the last five as CFO.
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Beazley and Lancashire’s plans to launch US units exemplify wider competitive challenges that the market must overcome to thrive.
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The carrier’s before-tax profit leapt by $356mn to $547mn under the new IFRS 17 reporting standards.
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The carrier warned that if members do not back its proposals, it will continue with plans for a US E&S carrier without compensation.
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This came after the firm said it had begun the process of moving its US E&S business off its Lloyd’s paper as it sets up a new E&S carrier.
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The CEO said the business shift would be structurally simpler, as he said Beazley was “very confident” on its reinsurance cover despite exposure to Vesttoo.
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The carrier reported a 66% increase in GWP for its property business.
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The London market businesses face potential fallout as Vesttoo investigates collateral inconsistencies.
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The revision reflects AM Best’s expectation that Beazley will maintain its risk-adjusted capitalisation "comfortably at the strongest level”.
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Staffing turmoil is ongoing in the marine market as companies vie to secure talent.
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Beazley’s Smart Tracker Syndicate was granted full syndicate status from the start of this year.
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Amplify will initially cover property before moving into other lines, such as financial and professional liability and cargo.
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