Andrew Horton has stepped down as chief executive of Beazley after almost 13 years to lead an Australian insurance company.
Horton will leave the Lloyd’s of London insurer at the end of March and is expected to become CEO of QBE Insurance at the start of September.
He joined Beazley as finance director in 2003 and took over as CEO in 2008, leading the group through the peak of the financial crisis, a surge in natural catastrophes and the Covid-19 pandemic.
Beazley will replace Horton with Adrian Cox, chief underwriting officer and a 20-year veteran of the company. Cox has been a board member since 2010.
David Roberts, Beazley’s chairman, said: “Andrew has overseen the expansion of Beazley and leaves it in a strong position operationally and financially. Adrian has an outstanding track record within Beazley, spending time in both the US and the UK, and the board is confident that under his leadership Beazley will continue to go from strength to strength.”
Beazley is looking for a new chief underwriting officer. In the meantime Bethany Greenwood will run long-tail underwriting comprising cyber, executive risk and specialty, and Tim Turner will oversee short-tail underwriting such as marine, political and property.
The FTSE 250 group’s shares rose 0.5% to 358p at 08:40 GMT.