Beazley to establish Lloyd’s syndicate pegged to ESG metrics Business InsuranceBeazley to establish Lloyd’s syndicate pegged to ESG metrics Business InsuranceBeazley to establish Lloyd’s syndicate pegged to ESG metrics Business Insurance
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Beazley PLC announced Monday that it received initial approval from Lloyd’s of London for a syndicate to provide additional capacity to businesses that meet certain environmental, governance and social rating metrics.
Syndicate 4321 will begin underwriting on January 1, 2022. Will Roscoe, head market facilities division, will lead the operation, the London-based specialty insurance company stated in a statement.
The syndicate will initially accept directors and officers from health care, financial institutions and London market U.S. Cyber.
The Lloyd’s syndicate in-a-box framework has been used to create the syndicate. It will be managed by Beazley Lloyd’s syndicates 2623 and 623.
Roscoe stated in the statement that “evidence shows that businesses with high ESG ratings tend to have a lower profile.”