Specialty (re)insurer Beazley has announced that CEO Andrew Horton is set to depart the company to become group CEO of QBE Insurance Group Limited in Australia.
Horton will remain with Beazley until the end of March, and it is expected he will not take up his new role at QBE until 1 September 2021.
Beazley has also announced the Adrian Cox has been appointed to CEO, effective 1 April 2021. Cox has served at Beazley for over two decades, most recently as chief underwriting officer (CUO) and has over 25 years of industry experience. He has also been a member of the Beazley plc Board since 2010.
Additionally, Bethany Greenwood will be appointed to interim CUO of long tail underwriting (Cyber and Executive Risk and Specialty Lines) and Tim Turner will be interim CUO of short tail underwriting role (Marine, Market Facilities, Political, Accident and Contingency, Property and Treaty).
Both interim responsibilities will be in addition to Greenwood and Turner’s current roles, whilst Beazley looks to appoint a new CUO for the firm.
David Roberts, chairman, commented: “On behalf of the whole Board, I would like to thank Andrew for his leadership and outstanding contribution to Beazley, in particular as CEO, a position he has held since 2008. He has overseen the expansion of Beazley over this period, and leaves it in a strong position operationally and financially. We wish Andrew well in his new role.
We are pleased that Adrian Cox has agreed to become our new CEO. Adrian has an outstanding track record within Beazley, spending time in both the US and the UK, and the Board is confident that under his leadership, Beazley will continue to go from strength to strength. Adrian’s appointment provides continuity in Beazley’s leadership team and strategic direction. This ensures that we will continue delivering for our people, our clients and our shareholders in the years to come.”
Cox commented: “I am delighted to be appointed CEO of Beazley. Our Group has a long and successful track record, built on the experience and expertise of our people, our innovation and a prudent approach to managing our balance sheet. I am excited about the opportunities ahead and the chance to build on our proven and successful business model in the years to come.”
Horton said: “I have every confidence in Adrian as my successor and believe he is the best person to lead the Company going forward. Adrian is exceptionally well placed to undertake the role, having held a variety of positions during his tenure at the Company, providing him with the required depth and breadth of knowledge. I am pleased to be leaving the Group in such capable hands and I wish Adrian and the whole Beazley team all the best for the future.”