Financial News

Beazley expands specialty lines presence in Canada

LONDON, UNITED KINGDOM--(Marketwired - February 06, 2017) - Beazley is expanding its presence in Canada with the acquisition of the specialist managing general agent, Creechurch Underwriters.

Since its founding in 1996, Creechurch has built a strong reputation for providing tailored insurance programmes to small and medium enterprises in a range of industries and professions, including technology, life sciences and health products, manufacturing, distribution and trades, and architects and engineers. It also offers standalone products for cyber, management liability, commercial crime, employment practices liability, professional liability, miscellaneous errors & omissions, medical malpractice, general liability, property (including vacant property), and legal expenses.

Creechurch's 30-strong team will remain based in their existing Toronto, Montreal and Vancouver offices and continue to be led by Phil Baker who will report to Gerard Bloom, Beazley's head of international financial lines.

In 2016 Creechurch generated CAD$36m of premiums.

"We are delighted to welcome this highly regarded team to Beazley," said Gerard Bloom. "We look forward to working together to build Beazley's presence in Canada by enhancing existing covers and providing deeper support to middle market and large risk accounts along with launching new products."

Adrian Cox, Beazley's head of specialty lines, said, "Canada has a developed insurance market well suited to the specialist liability products that we offer. Last year we launched our market leading data breach product, Beazley Breach Response, in Canada and we see significant growth opportunities across our product range."

Phil Baker, president of Creechurch, said, "We have had a successful trading partnership with Beazley ever since we began in 1996. We are very familiar with Beazley's people, products and culture -- it's a great fit."

Note to editors:

Beazley plc (BEZ) is the parent company of specialist insurance businesses with operations in Europe, the US, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd's syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 million. All Lloyd's syndicates are rated A by A.M. Best.

Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.

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

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For further information, please contact:
Beazley Group
Hunter Hoffmann

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