23rd Dec 2005 12:06
Beazley Group PLC23 December 2005 23 December 2005 Beazley Decides Not To Go Ahead With Formation of New Syndicate Beazley Group plc announces it has completed its strategic appraisal into thepossible formation of a new syndicate and has decided not to proceed due to theinability to reach agreement with investors on a structure that would satisfythe Beazley Group's objectives. ends Contacts: Finsbury: Simon Moyse020 7251 3801 or 07810 505473 Beazley: Andrew Beazley, Andrew Horton, or Nick Furlonge020 7667 0623 Notes to editors: 1. On November 28th 2005 Beazley Group plc announced that it had beenapproached by a number of capital providers who had expressed interest inpotentially supporting a new Lloyd's syndicate. 2. Beazley Group, plc (BEZ.L), founded in 1986, is the parent company ofspecialist insurance businesses with operations in the UK and the United States.Beazley manages two Lloyd's syndicates (Syndicate 2623 and Syndicate 623) withaggregate underwriting capacity in 2006 of £830 million. Both syndicates arerated 'A' by A.M. Best. The Beazley syndicates focus on specialist risk businessin selected markets, including professional indemnity, commercial property,marine, reinsurance, and personal lines. Beazley is a market leader in many ofits chosen segments. 3. In the United States, Beazley's underwriters focus on writing specialistinsurance products in the admitted market, backed by Beazley Insurance Company,Inc., a US admitted carrier in all 50 states; and surplus lines risks, backed bythe Beazley syndicates at Lloyd's. Beazley Insurance Company is rated 'A-' byA.M. Best. For more information go to www.beazley.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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