Lloyd's insurer Beazley Group plc said it has created a facilityin the Lloyd's market for catastrophe-exposed U.S. commercialproperty risks.
|The company said Beazley Quincat facility will enable theproperty team to write 100 percent layers for U.S. clients withlimits of up to $35 million.
|Risks insured by the Beazley Quincat facility, consortium 9407,will be underwritten by Beazley's commercial property team:Jonathan Gray, Alastair Blades and Alistair Robson.
|Mr. Gray, head of Beazley Property Group, said the new facilitywas formed "because many of our U.S. clients need additionalcapacity. The impact of last year's exceptional hurricane seasoncontinues to affect the market, causing coverage shortagesthroughout the U.S., but particularly in catastrophe-proneareas."
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