Marsh bolsters ESG reporting with Beazley

Specialist insurer Beazley is to offer clients that opt in to Marsh’s Environmental, Social, and Governance (ESG) Risk Rating (ERR), global access to additional capacity through its Lloyd’s of London Syndicate 4321, subject to the ERR score meeting Beazley’s threshold.

Marsh is an insurance broker and risk advisor serving commercial and individual clients with data-driven risk solutions and advisory services.

The company launched its ESG rating in March. The tool can measure an organisation’s ESG performance, which Marsh said enables them to improve their ESG risks and gain access to additional insurance market capacity.

Syndicate 4321 started underwriting in January 2022 and accepts D&O, healthcare, financial institutions, London market US cyber, property, marine hull, marine cargo and aviation business.

Amy Barnes, head of climate and sustainability strategy, Marsh, said, “The ESG Risk Rating enables clients to take control of their ESG narrative and differentiate their organisations with insurers. The option of additional capacity from Beazley’s Syndicate 4321 is an important milestone in the development of the ESG Risk Rating, as we support clients in realising their ESG goals.”

Will Roscoe, head of portfolio underwriting, Beazley, added, “Beazley’s ESG syndicate 4321 helps clients improve their ESG credentials and embed greater understanding of the risk profile of high scoring ESG businesses into our own underwriting. I am pleased that by adopting Marsh’s ESG Risk Rating tool, clients who are able to meet the criteria will benefit from access to additional capacity from syndicate 4321.”

Beazley recently partnered with InsurTech Cytora to automate risk processing and accelerate profitable growth.

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