Directorate Change

Beazley PLC

10 August 2023

 

This announcement contains inside information

Beazley Chief Financial Officer Sally Lake to step down

London, 10 August 2023

Beazley today announces that Sally Lake has informed the Board of her intention to leave Beazley in 2024. The Board will now conduct an orderly process for an external successor, which will complete during her 12 month notice period.

Beazley CEO Adrian Cox said: "Sally's commitment to an orderly succession will conclude a remarkable career with Beazley. When Sally leaves Beazley she will have spent five years in the CFO role and over 18 years in the business.

Sally and I have been colleagues at Beazley for more than 17 years; I will miss working with her. She is an outstanding colleague and role model who is dedicated to delivering Beazley's sustainable growth agenda. We will thank Sally wholeheartedly for her leadership and valued contribution when she leaves next year and wish her every success in her next chapter.

I look forward to presenting our half year results and capital strategy with Sally as expected on 7 September 2023. Meanwhile our guidance on growth, combined ratio and the positive outlook for the business remain unchanged."

Beazley CFO Sally Lake said: "As I approach five years as CFO and after 18 years at Beazley, I believe now is the right time for the Board to begin an open, formal search for my successor. Beazley's continued success remains my priority and I will look forward to remaining focused on delivering on our goals and a structured handover to my successor in 2024." 

Clive Bannister, Chair of Beazley Plc said: "The Board takes this opportunity to thank Sally for her substantial contribution to Beazley's success."

ENDS

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2016 as it forms part of UK law by virtue of the UK law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for releasing this announcement is Christine Oldridge (Company Secretary).

For further information:

Analysts and Investors:

Sarah Booth

[phone]

Media:

Georgina Peters Venzano

T+ 44 (0)20 7667 0638

or

Sam Whiteley

T+44 (0)20 7674 7484

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, North America, Latin America and Asia. Beazley manages seven Lloyd's syndicates and, in 2022, underwrote gross premiums worldwide of $5,268.7million. 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 Liability, Property, Marine, Reinsurance, Accident and Life, and Political Risks and Contingency Business.

For more information please go to: beazley.com

This announcement contains inside information

 

END