On First Anniversary of First State Acquisition, Team Transitions to Beazley Brand

DOWNERS GROVE, Ill., April 19, /PRNewswire-FirstCall/ -- April 1st marked the first anniversary of the Beazley Group (BEZ.L) acquisition of First State Management Group, Inc., a leading US underwriting manager specializing in surplus lines commercial property insurance, from the Hartford Financial Services Group, Inc. (HIG).  After a year of transitioning the First State team and systems to Beazley offices, Beazley First State will now be renamed Beazley E&S Property, a member of the US property group.

Beazley, a major underwriter of US commercial property business at Lloyd's, began underwriting business locally in the US on both an admitted and non admitted basis in 2006.  The addition of First State substantially boosted the group's capabilities in the non admitted market for risks that would not normally come to Lloyd's.  In 2009, the team contributed $94m in premium to the $140m written total by the US property practice.

Brokers and clients now have access to a full range of property related coverage from Beazley in the US, including commercial property on an admitted and surplus lines basis; builders risk; transportation; and high value homeowners insurance.  Mark Bernacki, head of US Property, said:  "We are delighted with the smooth transition our First State team has made.  Clients and brokers have been extremely supportive and we are well equipped to deliver a first class service across all our product lines going forward."

Judith Patterson, head of Beazley E&S Property, said: "Over several decades First State built an excellent reputation as a specialist property underwriter.  We take this heritage very seriously and are confident that, under the Beazley name, we will be able to deliver even more responsive service to our clients."

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, the US, Asia and Australia.  Beazley manages five Lloyd's syndicates and, in 2009, underwrote gross premiums worldwide of 1,115.5 million pounds.  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 is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com.

SOURCE Beazley Group