Beazley has announced the appointment of Lindsay Shipper as Head of Commercial Property, North America, effective April 1, 2025. Based in Atlanta, Georgia, Shipper will report directly to Richard Montminy, Group Head of Property Risks.
Shipper brings nearly 20 years of experience in the property market, with a strong background in brokerage. She joins Beazley from Marsh, where she held several senior positions over her 16-year tenure, most recently serving as Managing Director and Southeast Zone Property Leader.
This appointment comes as Beazley continues to expand its presence in the specialty property market, particularly within the U.S. excess and surplus sector. The company has also extended its property underwriting operations into the European market, reinforcing its global reach.
Despite a challenging market landscape, Beazley demonstrated robust financial performance in 2024. The company reported an undiscounted combined ratio of 79%, underscoring its strong underwriting profitability.
For the year ending December 31, 2024, Beazley achieved a record profit before tax of $1.423 billion, reflecting a 13% increase from the $1.254 billion reported in 2023. This growth was fueled by a 10% rise in insurance written premiums, which totaled $6.164 billion compared to $5.601 billion in the previous year. Net insurance written premiums also increased, reaching $5.152 billion from $4.696 billion in 2023.
Hurricanes Helene and Milton resulted in estimated net losses ranging between $125 million and $175 million. However, Beazley remains confident in maintaining an undiscounted combined ratio of approximately 80% for the full year, signaling continued profitability despite natural catastrophe losses.
Beyond its growth in the specialty property sector, Beazley has also reinforced its cyber insurance operations. The company recently appointed Alessandro Lezzi as Group Head of Cyber Risks, highlighting its commitment to expanding its expertise in the rapidly evolving cyber market.
As Beazley continues to strengthen its leadership team and broaden its market footprint, these strategic appointments and financial milestones position the company for sustained success in 2025 and beyond.
