16th Apr 2007 07:00
Beazley Group PLC16 April 2007 Beazley increases capital in US business London, UK, April 13, 2007 - Beazley Group plc (BEZ.L) has increased the capitalof its US admitted insurance company, Beazley Insurance Company, Inc., by $45million, resulting in a total capitalisation of approximately $105 million. Theadditional funds will be used to support the growth of Beazley's business in theUS admitted market, including specialty professional and management liabilityinsurance and the newly launched commercial property business. BeazleyInsurance Company, Inc. commenced underwriting in 2005. ENDS Note to Editors: Beazley Group, plc (BEZ.L), based in London, is the parent company of global,specialist insurance businesses with operations in the UK, US, France, Singaporeand Hong Kong. Beazley manages two Lloyd's syndicates (Syndicate 2623 andSyndicate 623) with aggregate underwriting capacity in 2007 of £860m (US$1.7bn).Both syndicates are rated A by A.M. Best. In the US, Beazley's underwritersfocus on writing specialist insurance products in the admitted market, backed byBeazley Insurance Company, Inc., an admitted carrier in all 50 states; andsurplus lines risks, backed by the Beazley syndicates at Lloyd's. BeazleyInsurance Company, Inc. is rated A- by A.M. Best. Beazley is a market leader in many of its chosen lines including professionalindemnity, commercial property, marine, reinsurance, and personal lines. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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