Beazley expands Asia presence

Beazley is expanding its insurance offering in Asian markets through a new financial lines capacity arrangement with Hong Kong-based coverholder Pegasus Underwriting. As part of the arrangement, PUL's financial lines capability will be supported by Beazley capacity across professional indemnity, D&O, cyber and medical malpractice.

The Lloyd’s coverholder is headed up by Tony Lau, CEO, who has spent more than 40 years in insurance, and served in various senior roles at Marsh before moving into underwriting.

“Our focus is on building our specialty business through strong partnerships and we are delighted to be working with Beazley, which shares our ambition and long-term objectives," he said.

He is joined by Yvonne Leung to develop the financial lines portfolio. She has 20 years of underwriting experience and was previously a financial lines underwriter with XL Catlin.

Nicholas Tey, Beazley’s financial lines regional manager for Asia, will be working with the PUL team to jointly build up the Hong Kong financial lines portfolio.

Lucien Mounier, head of Asia-Pacific at Beazley, said: “We are very pleased to be working with PUL in Hong Kong as we continue to target niche growth opportunities across the region.”

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