BEAZLEY DECISION TO SPLIT SPECIALTY BUSINESS WELCOMED

Lloyd’s insurer Beazley has split its specialty business into two in a decision welcomed by analysts. Beazley’s technology, media and business services (TMB) and management liability segments will be hived off and led by Mike Donovan, previously head of the technology, media and business services team. This will include the cyber business. The remaining business, which will be called Specialty, will be led by James Eaton, previously head of the specialty lines global team focusing on small business. The move should give Beazley better operational control and a higher valuation, and make for better disclosure to investors, Jefferies analysts said.