Beazley boosts financial lines offering in Asia via new Pegasus partnership

Specialty insurer Beazley has partnered with Hong Kong-based coverholder Pegasus Underwriting (PUL) to expand its financial lines offering in Asia.

PUL’s financial lines capability is supported by Beazley capacity, including across professional indemnity, directors & officers, cyber and medical malpractice.

PUL, a Lloyd's coverholder, is headed up by insurance veteran Tony Lau, CEO, who held various roles at Marsh before moving into underwriting.

Lau is joined by Yvonne Leung, previously a financial lines underwriter with XL Catlin, to develop the financial lines portfolio.

Additionally, Nicholas Tey, Beazley's financial lines regional manager for Asia, will work closely with the PUL team to jointly build up the Hong Kong financial lines portfolio.

Lucien Mounier, head of Asia Pacific at Beazley, said: "We are very pleased to be working with PUL in Hong Kong as we continue to target niche growth opportunities across the region."

Lau added: "Our focus is on building our speciality business through strong partnerships and we are delighted to be working with Beazley, which shares our ambition and long-term objectives."

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