Beazley service company approval enhances distribution capabilities in Asia Pacific

Beazley Limited gains regulatory approval

London, April 21st, 2020

Specialist insurer Beazley has extended its distribution capabilities in Asia Pacific following the authorisation by the Labuan financial regulator of a new service company.

The new company, Beazley Labuan Limited, will support Beazley in building its presence in the Malaysian market and underwrite various classes of business on a reinsurance basis on behalf of Beazley’s Lloyd’s syndicates. The classes include financial lines, cyber, political risk, terrorism and marine. Beazley Labuan Ltd will complement the underwriting and distribution capabilities of based service company Beazley Pte Ltd.

Nicholas Tey, Beazley’s international financial lines manager for Asia Pacific, said: “The insurance markets in and Asean are growing to meet the changing level of demand and risk of commercial businesses. We see strong opportunities to increase our presence here, supported by this new service company, Beazley Labuan Ltd which provides an additional, efficient distribution channel for Beazley to trade with local insurers and brokers in the markets.”

For further information, please contact:

Beazley Group Mairi MacDonald +44 (0)207 674 7164

Note to editors: Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia and Australia. Beazley manages six Lloyd’s syndicates and in 2019, underwrote gross premiums worldwide of $3,003.9 million.

Beazley Labuan Limited is a service company that is part of the Beazley group of companies and underwrites on behalf of Beazley syndicates at Lloyd’s. Registered in Malaysia No. LL16377. Beazley Labuan Limited is licensed under the Labuan Financial Services and Securities Act by the Labuan Financial Services Authority as a Labuan Underwriting Manager (License number: US202033).

Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com