Beazley invests in specialty lines growth
Leading specialist insurer Beazley today announced the appointment of three senior underwriters to help drive the growth of specialty lines business outside the United States, with Europe a major focus.
Gerard Bloom will be joining Beazley's specialty lines division later this year to spearhead the division's international growth outside the United States. As chief underwriting officer, financial institutions, at XL Catlin Mr Bloom built one of the largest financial institutions (FI) insurance portfolios outside the US, with a sustained track record of profitability. Heading Beazley's new international FI team will be Neale Stevenson, who will be joined by Darren Keane, a highly experienced FI underwriter. Both Mr Stevenson and Mr Keane worked alongside Mr Bloom at XL Catlin.
Europe will be a major focus for the international team, with business underwritten both at the Beazley box at Lloyd's and through local offices. The team, which is expected to grow in the months ahead, will also be targeting new business opportunities, in FI and in other specialty lines, including management liability, professional indemnity and cyber, in Asia Pacific and Latin America.
Adrian Cox, head of Beazley's specialty lines division, said: "Continental Europe is currently a far smaller market for Beazley than the United States, and the same is true of Asia Pacific and Latin America. But we see similarly strong demand for our specialist underwriting expertise, unique products, and high quality claims service. With Gerard's leadership and the deep product expertise of Neale and Darren alongside the other members of our international team, I am confident we can develop these opportunities."
Gerard Bloom said: "I am excited to be joining Beazley, a company admired across our industry for its underwriting skills and the quality of its claims service. Beazley's underwriters have shown how successful this combination can be in growth markets such as cyber, offering innovative products that respond to clients' most pressing needs. I look forward to working with the specialty lines team and with Martin Bride, who heads Beazley's European strategic growth initiative, to build on these strong foundations."