It was announced yesterday that Beazley plc is to establish a European insurance company in Dublin.  
 
Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia, Middle East and Australia. Beazley manages six Lloyd’s syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 million. All Lloyd’s syndicates are rated A by A.M. Best. 
 
Beazley Re - a specialist reinsurance company was established in Dublin in 2009. Beazley Re acts as an intra-group reinsurer and provides capital to support the underwriting activities of its sister company, Beazley Underwriting Ltd.

The company, which is an IDA Ireland client, will increase its European business from its Irish base. In order to expand its access to EU markets, Beazley plc has been granted a European insurance licence for its existing reinsurance company in Dublin. The new Insurance entity will provide specialty insurance products including professional indemnity, management liability and cyber.  

Welcoming the announcement yesterday, Minister of State with special responsibility for Financial Services & Insurance, Michael D’Arcy TD said, "Beazley’s plans to expand its operations in Ireland is a very welcome development and demonstrates Ireland’s strong offering for the Financial Services Sector. The Government is making efforts to provide the most supportive climate possible for such business in Ireland." 

Beazley CEO, Andrew Horton added, "Our reinsurance company has been located in Dublin since 2009 and we have long considered it an attractive potential location from which to develop our European business. I am particularly grateful to Ireland's inward investment promotion agency, IDA Ireland, for its unstinting support in our efforts to accomplish this."

Source: www.businessworld.ie