Growth in continental Europe is a strategic objective for Beazley and during the course of 2018 we have been expanding our local underwriting presence in France, Germany and Spain. We are also taking the following measures to support existing and new clients in continental Europe following Britain's scheduled departure from the European Union on 29 March 2019.
Post-Brexit, our European insurance clients will be able to access Beazley in two ways:
1) From 1 January 2019, Beazley will be able to underwrite business through the Lloyd's European Insurance Company S.A., based in Brussels. Lloyd's Brussels is licensed in all 27 European Union and three European Economic Area states and has been assigned the same strong financial ratings as Lloyd's from A.M. Best of A, Standard & Poor's of A+ and Fitch of AA-. Business underwritten through Lloyd's Brussels will, naturally, continue to benefit from the Lloyd's chain of security.
2) Beazley is also able to underwrite through its European insurance company domiciled in Dublin (Beazley Insurance dac), which enjoys a financial strength rating from A.M. Best on a par with the Lloyd's rating (A "Excellent").
For delegated authority business, we are working with Lloyd's to ensure the necessary approvals are in place to access the Lloyd's Brussels platform prior to Brexit to ensure continuity of service.
If you have any questions, including questions relating to particular classes of business, please ask your usual underwriting contact or email email@example.com