Andrew Horton departs Beazley

Posted 04/03/2021 – News

Beazley has announced that Andrew Horton has informed the Board of his intention to leave the Company to become the Group Chief Executive Officer (“CEO”) of QBE Insurance Group Limited in Australia.

Andrew Horton will remain with Beazley until 31 March 2021 and is not expected to take up his new role until 1 September 2021.

Beazley is pleased to announce that Adrian Cox has been appointed as the CEO, effective 1 April 2021. Adrian has been with Beazley for 20 years, most recently as Chief Underwriting Officer (“CUO”) and has over 25 years’ of industry experience. Adrian has been a member of the Beazley plc Board since 2010.

Following Adrian’s appointment, Bethany Greenwood will be the interim CUO of long tail underwriting (Cyber and Executive Risk and Specialty Lines) and Tim Turner will be the interim CUO of short tail underwriting (Marine, Market Facilities, Political, Accident and Contingency, Property and Treaty). These responsibilities will be in addition to their current roles, whilst Beazley conduct the process to appoint a new CUO.

“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.”

Alpha comment

Whilst we are sad to see Andrew leave to take up the reins as CEO of QBE in Australia (a role previously held by John Neal), we know Adrian Cox well and are confident of his ability to lead the Beazley group into a hardening market. Andrew can be considered one of the most able CEOs of a Lloyd’s business since 2008, having grown Beazley to a $3.6bn premium business with a strong profit record. Under his leadership it was one of the first businesses to be awarded a ‘light touch’ status at Lloyd’s. Beazley has been at the forefront of innovation, not only via its Cyber breach response product but more recently with the successful launch of its ‘smart tracker’ syndicate 5623. If the transition from Andrew to Adrian is as seamless as that from Andrew Beazley to Andrew Horton in 2008, then history is likely to judge his tenure at Beazley very favourably, despite small losses at syndicate 623 in the last two years.

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