Beazley plc

Beazley plc
Company typePublic
LSE: BEZ
FTSE 100 component
IndustryInsurance
Founded1986; 38 years ago (1986)
HeadquartersLondon, England, UK
Key people
Adrian Cox (CEO)
ProductsLife, accident & health, marine, political risks & contingency, property, reinsurance, professional liability, management liability, environmental liability
RevenueIncrease $5,442.4 million (2023)[1]
Increase $1,295.0 million (2023)[1]
Increase $1,026.8 million (2023)[1]
Websitebeazley.com

Beazley plc is the British parent company of specialist insurance businesses with operations in Europe, North America and Asia. The company is based in London, England, and is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

Beazley began life in 1986 as Beazley, Furlonge & Hiscox; Hiscox was bought out in 1992 and a full management buyout took place in 2001.[2] Andrew Beazley served as chief executive until September 2008 when he was succeeded by Andrew Horton.[3] Horton was succeeded by Adrian Cox in April 2021.[4]

In February 2024, Beazley announced the formation of an integrated cyber risk management company, Beazley Security, by merging its in-house Cyber Services team with Lodestone, its wholly owned cybersecurity company.[5] In June 2024, Beazley Security introduced its portfolio of services, including a new managed extended detection and response (MXDR) service.[6]

Operations

Beazley underwrites a diverse book of insurance and reinsurance business for clients worldwide. Beazley's business is divided into five operating divisions: Cyber Risks, MAP risks (Marine, Aviation and Political Risks), Property Risks, Specialty Risks and Digital. Beazley is a market leader in many of its chosen lines, which include professional indemnity, directors and officers, crime, healthcare, property, environmental liability, cyber liability, marine, reinsurance, accident and life, and political risks and contingency business. [7] Beazley manages seven Lloyd's syndicates.[8]

References

Beazley is an underwriter at the Lloyd's of London insurance market.
  1. ^ a b c "Annual Results 2023". Beazley. Retrieved 7 March 2024.
  2. ^ "Beazley Syndicate Completes Management Buyout". Insurance Journal. 3 April 2001. Retrieved 8 April 2012.
  3. ^ "David Andrew Horton". Businessweek. Retrieved 8 April 2012.[dead link‍]
  4. ^ "Beazley confirms salary of incoming CEO Cox". Insurance Insider. 1 April 2021. Retrieved 16 February 2022.
  5. ^ "Beazley Creates Cyber Risk Management Company". Insurance Journal. 2024-02-21. Retrieved 2024-06-28.
  6. ^ "Beazley Security Launches With MXDR Offering". Dark Reading. 2024-06-27. Retrieved 2024-06-28.
  7. ^ "Beazley strengthens US underwriting team for small to mid-sized businesses". Market Wired. 7 February 2017. Retrieved 16 April 2017.
  8. ^ "Beazley". Lloyds of London. Retrieved 1 May 2024.