Brexit may still seem a long way off, but insurers have wasted no time in making their moves to secure their EU passporting rights. However, while the likes of
Chubb, Lloyd’s of London, Markel and others have officially declared their new EU bases, specialist insurer
Beazley is already underwriting policies at its new home away from home.
Back in July it received authorization to set up a Dublin-based insurance company – and now that firm, Beazley Insurance, has started to underwrite policies including some for European banks.
Announcing the milestone development, the company revealed that it has recruited a team of specialists with deep expertise in writing for financial institutions – and that it is also writing accounts with professional liability, management liability and cyber exposures. In addition, it has been developing a suite of financial lines products meant to further expand the company’s presence in selected European markets.
Its team in the Irish capital is led by Gerard Bloom, head of international financial lines, who outlined his enthusiasm for the move.
“We are building on our strong broker relationships in the UK, France, Germany and Spain to offer clients a choice of security from Beazley Insurance and our Lloyd’s syndicates,” he said. “We will continue to hire experienced underwriters across our platforms in the UK and continental Europe to complement our existing teams in providing superior service to our brokers and clients for their January 01 renewals and beyond.”
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