Beazley agrees to buy Canadian insurer Creechurch Underwriters

Insurer Beazley said on Monday that it is expanding its presence in Canada with the acquisition of the specialist managing general agent, Creechurch Underwriters.

Founded in 1996, Creechurch – which generated CAD$36m of premiums last year – provides tailored insurance programmes to small and medium enterprises in a range of industries and professions, including technology, life sciences and health products, manufacturing, distribution and trades, and architects and engineers.

It also offers standalone products for cyber, management liability, commercial crime, employment practices liability, professional liability, miscellaneous errors & omissions, medical malpractice, general liability, property and legal expenses.

The company’s 30-strong team will remain based in their Toronto, Montreal and Vancouver offices and continue to be led by Phil Baker who will report to Beazley’s head of international financial lines, Gerard Bloom.

Bloom said: "We are delighted to welcome this highly regarded team to Beazley. We look forward to working together to build Beazley's presence in Canada by enhancing existing covers and providing deeper support to middle market and large risk accounts along with launching new products."

Adrian Cox, Beazley's head of specialty lines, said: "Canada has a developed insurance market well suited to the specialist liability products that we offer. Last year we launched our market leading data breach product, Beazley Breach Response, in Canada and we see significant growth opportunities across our product range."

At 0927 GMT, Beazley shares were flat at 434.90p.