Cyber major earnings driver for Beazley

Cyber could contribute 30 percent to Beazley’s underwriting earnings by 2020, according to Jefferies analysts.

Cyber is reaching critical mass at 14 percent of Beazley’s 2017 gross written premium (GWP) and is forecast to rise to 23 percent by 2020, the analysts noted.

Jefferies estimates that Beazley has 10 percent market share in US cyber, which has grown at 30 percent p.a. since 2011 on the back of increased data breach regulations. The analysts expect Beazley to maintain market share and continue its growth trajectory. Moreover, Beazley is well positioned to capture any demand surge beyond the US, prompted by new regulatory requirements such as the EU Global Data Protection Regulation (GDPR).

Beazley is a unique London Market insurer, with a top-tier Lloyd's syndicate, exceptional management and clear operational momentum in cyber insurance, Jefferies said in a May 21 note.

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