Beazley, one of Lloyd’s leading syndicates, has completed a management buyout. “Under the new structure, the directors and staff will own 100% of the Managing Agency and Syndicate 623′s capacity will continue to be supplied by a mixture of capital sources – traditional names, corporate names and Beazley dedicated,” said the announcement.
Founded in 1986 and headed by Andrew Beazley, the group “focuses on specialist risk business in selected marine and non-marine markets, including commercial property, retail and personal lines, reinsurance and specialty products.”
“Our structure is almost unique in the current Lloyd’s market,” said Beazley, “and it is our strongly held belief that this will ensure that we are able to retain and attract underwriting talent to help expand Beazley and secure our future as a flexible and profitable underwriter driven business.”
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