Beazley confirms no change to current
guidance following global IT event
London, 23 July 2024
On Friday 19 July, a faulty systems update from CrowdStrike caused a
widespread outage. This affected an estimated 8.5 million
Windows devices worldwide, according to Microsoft.
Given the unprecedented nature of
this event and Beazley's position as a leading cyber insurer, the
Company has elected to provide an update on its position in
relation to the outage. Based on what is known at this point,
the event will not change the current undiscounted combined ratio
guidance of low-80s for the full year.
Beazley will update the market on
its first half performance on 8 August and will provide any further
relevant updates in relation to this event at that time.
Investors and
analysts
Sarah Booth
+44 (0) 207 6747582
Media
Sam Whiteley
+44 (0) 207 6747484
Note to editors:
Beazley plc (BEZ.L), is the parent
company of specialist insurance businesses with operations in
Europe, North America, Latin America, and Asia. Beazley manages six
Lloyd's syndicates and, in 2023, underwrote gross premiums
worldwide of $5,601.4million. 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 and its subsidiary, Beazley America Insurance Company, Inc.
In the surplus lines market, coverage is provided by the Beazley
syndicates at Lloyd's, and from 1 January 2024, also from Beazley
Excess and Surplus Insurance, Inc.
Beazley's European insurance
company, Beazley Insurance dac, is regulated by the Central Bank of
Ireland and is A rated by A.M. Best and A+ by
Fitch.
Beazley is a market leader in many
of its chosen lines, which include Professional Indemnity, Cyber
Liability, Property, Marine, Reinsurance, Accident and Life, and
Political Risks and Contingency business.
For more information please go
to: www.beazley.com