12 July 2016 Insurance

Beazley hires three former XL Catlin underwriters

Beazley, a specialty insurer, has appointed three senior underwriters as part of the expansion of its financial institutions (FI) underwriting capabilities, to help drive the growth of specialty lines business outside the United States, with Europe a major focus.

Beazley has assigned Gerard Bloom to its specialty lines division later this year to lead the division’s international growth outside the US.

Bloom has a large FI insurance portfolio, having previously served as chief underwriting officer, financial institutions, at XL Catlin.

Also joining Beazley is Neale Stevenson, who will head the FI team, and also Darren Keane, a FI underwriter. Both Stevenson and Keane worked alongside Bloom at XL Catlin.

According to Beazley, the team will 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 US, 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.”

Bloom added: “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.”

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