Expansion of Beazley's marine

RNS Number : 2565C

Beazley PLC

10 November 2009

 

Beazley Marine enhances depth and breadth in liability

New team to expand professional and logistics covers

London, November 10, 2009

Freight forwarders, port operators, ship managers, naval architects and marine surveyors will be among those that will benefit from a major expansion of Beazley's marine underwriting capabilities to offer professional liability and logistics coverage. A new team, headed by Zareena Hussain, will lead the company's drive into this section of the market.  

Beazley is a leading insurer of marine hull, cargo and war risks in the London market, participating in the insurance of approximately 13.5% of the world's ocean-going tonnage.  Ms Hussain joins Beazley from a Lloyd's managing agency underwriting on behalf of Mitsui Sumitomo Insurance. She will be accompanied on the new team by Vincent Egon, underwriter, and Sharon Duffy, assistant underwriter, also from the same managing agency.  

Clive Washbourn, head of Beazley's Marine division, said: "The arrival of the new team will enable us to offer a much broader and deeper service in the liability market. Zareena and her colleagues have extensive experience in professional liability cover for ship managers, ship agents and marine surveyors, as well as cover for the operators of ports and logistics companies.

 "We already offer a range of liability covers but the new team will allow us to extend our range of services to target markets, such as marine surveyors and ship managers, that are not traditional buyers from the Lloyd's market. We believe the security and service that the Lloyd's market can offer will prove highly attractive to these buyers. Our existing clients will also benefit from their wealth of experience. 

Zareena Hussain said: "Beazley is one of the most respected marine underwriting businesses in the market, offering an excellent platform for us to develop our book of business further. I am confident our skills and experience will prove complementary to those of the existing marine team."

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For further information, please contact:

Beazley Group 
Clive Washbourn  [phone]

Note to editors:

Beazley plc (BEZ.L), is the parent company of global, specialist insurance businesses with operations in the UK, US, France, Germany, Ireland, Singapore, Hong Kong and Australia.  Beazley manages four Lloyd's syndicates: Syndicate 2623 and Syndicate 623 underwrite a 
broad range of insurance and reinsurance business worldwide; Syndicate 3623 focuses 
on accident and health business; and 3622 is a dedicated life syndicate. In 2008, Beazley underwrote gross premiums of £875.7 million. All Lloyd's syndicates are rated A by A.M. Best.  

In the US, Beazley's underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd's. Beazley Insurance Company, Inc. is rated A by A.M. Best. 

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business. 

For more information please go to: www.beazley.com

 

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