London, 21 July 2022
This announcement replaces 3382T released on 21 July, 2022 at 13:10.
Chair succession and board changes
Beazley plc announces that its chair, David Roberts will be standing down from the board in autumn 2022 to take up the role as chair of the Court of the Bank of England. The Company will update the market with precise timing when this is known. Upon David's departure, Christine LaSala*, the senior independent director will chair the board and the nomination committee on an interim basis, Bob Stuchbery will act as interim senior independent director, and Nicola Hodson will act as interim chair of the remuneration committee whilst the search for a replacement board chair is undertaken. When a chair is appointed, the directors will resume their usual responsibilities.
Christine LaSala commented, "I would like to thank David Roberts for the important role he has played at Beazley over the past 5 years, most notably as we faced the challenges of COVID-19 and the transformation of our executive management team. In particular, the board would like to thank David for the leadership he has shown in improving diversity and inclusion at Beazley. He leaves us a stronger business with an exciting future. As a business focused on risk management and insurance, we are committed to providing stability and continuity to all our stakeholders. We are now embarking on a process of selecting a successor and we will provide an update in due course."
For further information please contact:
+44 (0)20 7674 7758
* Christine LaSala joined Beazley's board in 2016 and has been the senior independent director since March 2019 and chair of the remuneration committee since March 2021. In late 2021, she also joined the board of Sedgwick as an independent director. She has 45 years of senior management, client leadership and financial experience in the insurance industry including work as an underwriter, and an insurance broker working with large corporate and public institution clients. For 10 years she was president and CEO of the WTC Captive Insurance Company. Latterly she was chair of Willis Towers Watson North America.
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 seven Lloyd's syndicates and, in 2021, underwrote gross premiums worldwide of $4,618.9 million. 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. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.
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