Beazley covers US cats

Europe

Lloyd’s insurer Beazley Group has established a new consortium syndicate to underwrite US commercial property lines exposed to catastrophe risk. Known as the Beazley Quincat facility under consortium 9407 the property team, led by Jonathan Gray, will write 100% layers with limits of up to US$35mn to address the current shortage of capacity in the US catastrophe market. Also at Lloyd’s, QBE’s Lloyd’s managing agency Limit launched aviation syndicate 5555, a sub-syndicate of 2999, earlier this month. Steven Burns, chief executive officer of QBE’s European operations, said: “ Limit has been a leading London-market aviation reinsurer for some years. This move allows us to expand our field of expertise to create an independent entity for the primary market”.