BEAZLEY COMPLETES BUYOUT

Beazley, one of Lloyd’s leading syndicates, has completed a management buyout. “Under the new structure, the directors and staff will own 100 percent 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,” according to 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.”