Beazley Launches Cyber ​​Consortium for Large Corporations

Specialty insurer Beazley has announced the launch of a cyber consortium offering comprehensive cover for large companies with a turnover of more than $1 billion, infusing $100 million of new capacity into the cyber market.

Called Beazley Quantum, the consortium is led by Beazley’s market-leading cyber underwriting and claims teams and is available on the Global Wholesale platform through Lloyd’s, Beazley said.

“As a leader in the cyber space, we have firmly taken strategic steps to build a thriving and sustainable cyber insurance market,” commented Paul Bantick, director of underwriting, Beazley, in a statement. “With the launch of Beazley Quantum, we are directly addressing the needs of large corporations and providing much-needed additional capacity to these businesses on the front lines of the cyber threat.”

Beazley plc, headquartered in London, is the parent company of specialist insurance companies with operations in Europe, North America, Latin America and Asia. Beazley manages six Lloyd’s syndicates and in 2023 wrote worldwide gross premiums of $5,601.4 million. All Lloyd’s syndicates are rated A by AM Best. Beazley’s European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and rated ‘A’ by AM Best and ‘A+’ by Fitch.

Source: Beazley

TOPICS
New cyber markets