Beazley moves ESG consortium capacity to Syndicate 5623

Specialist insurer  Beazley is moving the capacity of its ESG consortium to its follow syndicate 5623 as it looks to further grow the initiative.

The move will be effective from January 2024, subject to regulatory approval.

Beazley established the ESG Consortium and syndicate in a box (SIAB) 4321 in January 2022. It says the SIAB structure proved an effective test bed for the additional capacity model, which is now ready to move on to specialist follow only Syndicate 5623.

The ESG Consortium will also explore how additional capacity for clients that perform well against ESG criteria, can be offered via Beazley’s European and US domestic insurance companies.

Bob Quane, chief underwriting officer, Beazley, said: “The ESG Consortium offers valuable additional capacity to businesses with high ESG scores. I’m looking forward to seeing the ESG Consortium continue to build and serve more clients in Europe and the US via syndicate 5623.”

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