MAP Risks GWP down due to Syndicate 5623 business: Beazley
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MAP Risks GWP down due to Syndicate 5623 business: Beazley

Liz Bury, 
Abbie Wood
07 November 2023
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Beazley has noted in its Q3 trading statement that insurance written premium at its MAP Risks division reduced by 10% to $754mn in the first nine months of 2023, as the business was being written by the third-party capital-backed “Smart Tracker” Syndicate 5623.

The insurer said this “has the effect of reducing year-on-year gross premium growth in the division – net premium growth is not materially affected”.

Beazley

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