Beazley to prioritise firms with robust ESG scores

Beazley has brought its capacity to bear for companies that meet the appropriate threshold score under Marsh’s Environmental, Social, and Governance (ESG) Risk Rating (ERR) framework. The additional capacity will be available via its Lloyd’s syndicate 4321.

Syndicate 4321 started underwriting in January 2022 and accepts D&O, healthcare, financial institutions, London market US cyber, property, marine hull, marine cargo and aviation business.

The announcement comes at a time when the cost and availability of capacity for classes of business - particularly D&O and cyber - has been challenging.

All premiums received by Syndicate 4321 are invested in line with Beazley’s Responsible Investment Strategy.

Amy Barnes, head of Climate and Sustainability Strategy, Marsh, said: “The option of additional capacity from Beazley’s Syndicate 4321 is an important milestone in the development of the ESG Risk Rating, as we support clients in realising their ESG goals.”

Will Roscoe, head of Portfolio Underwriting, Beazley, added: “Beazley’s ESG syndicate 4321 helps clients improve their ESG credentials and embed greater understanding of the risk profile of high scoring ESG businesses into our own underwriting.

“By adopting Marsh’s ESG Risk Rating tool, clients who are able to meet the criteria will benefit from access to additional capacity from syndicate 4321.”

Marsh’s ESG Risk Rating is an assessment tool that can measure an organisation’s ESG performance, enabling it to improve their ESG risks, and gain access to additional insurance market capacity.