Beazley Cyber and Lodestone Merge to Form Beazley Security
Beazley expands focus on cyber security services with creation of Beazley Security: combining its in-house Cyber Services team with Lodestone, its wholly owned cyber security firm, Beazley will focus on improving cyber resilience for clients
London, UK (Feb. 21, 2024) – Beazley, the leading specialty, is pleased to announce the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley Security will be led by Alton Kizziah, currently CEO of Lodestone, and he will report to Paul Bantick Beazley’s Global Head of Cyber Risks.
The new company integrates the risk management services provided as part of a Beazley cyber insurance policy with Lodestone’s technical cyber security services. Beazley Security will offer integrated cyber preparedness and response capabilities and invest in new services such as a managed eXtended Detection and Response (mXDR) solution which provides round the clock monitoring, enabling rapid identification and containment of threats.
Paul Bantick, Global Head of Cyber Risks, Beazley commented: “We live in an era of accelerating cyber risk and by combining these two experts in cyber security and insurance, we are creating a force capable of addressing the challenges head on. I am looking forward to working with Alton and the team to support our clients in an ever more seamless and effective way.”
Alton Kizziah, CEO of Beazley Security said: “Building cyber resilience is top of mind for business leaders and Beazley Security has been created to bring responsive cyber protections to the heart of the fight against ever-evolving threats. I’m excited to lead an outstanding team of specialists committed to providing clients with confidence and peace of mind.”
About Beazley
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, United States, Canada, Latin America and Asia. Beazley manages seven Lloyd’s syndicates and, in 2022, underwrote gross premiums worldwide of $5,268.7m. All Lloyd’s syndicates are rated A by A.M. Best.
Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.
Beazley’s European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber, property, marine, reinsurance, accident and life, and political risks and contingency business.
For more information, please visit www.beazley.com.
SOURCE: Beazley Group
Tags: Beazley, cyber security, merger