NU Online News Service, Oct. 14, 1:57 p.m. EDT
The co-founder and deputy chairman of Beazley Group, Andrew Beazley, died yesterday at the age of 57 after a long bout with cancer.
Mr. Beazley was the chief executive of the company for 22 of the company's 24 year history.
The London-based insurance company on the Lloyd's market said in a tribute on its website that Beazley was founded by Mr. Beazley and Nick Furlonge in 1986. Today, the company employs 720 people and has recorded a profit in every year since its founding.
Mr. Beazley served as a member of the Lloyd's Market board from 1994 to 1997. During that time Lloyd's responded to some of its heaviest losses in its history with a number of reforms that included the creation of Equitas to reinsure liabilities from earlier years.
Mr. Beazley was a member of the Chairman's Strategy Group at Lloyd's that set the foundation for additional reforms that included the Franchise Board in 2003.
In a statement, Mr. Furlonge said, "Beazley Group has grown and prospered beyond our wildest dreams, but it has remained a close knit company. Andrew was a close friend and colleague to many of us and his inimitable humor, charisma and style will be remembered by all of us. Our deepest sympathies go out to his wife, Anne, and family."
Andrew Horton, Beazley Group chief executive, said, "The management team, and many others at Beazley, have known and worked closely with Andrew for years, if not decades. He had a huge zest for life that inspired all of us. We will miss him deeply."
Mr. Beazley is survived by his wife Anne and their three children, Christopher, Emma and Nicholas.
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