In this pivotal role, Kocsondy will spearhead the development of the global product and distribution strategy for Beazley’s cyber business sub $250 million. The appointment, effective January 1, 2024, underscores Beazley’s commitment to enhancing its cyber capabilities on a global scale.

Reporting directly to Paul Bantick, the Global Head of Cyber Risks, Patricia Kocsondy’s responsibilities will encompass crafting strategies tailored specifically for businesses in the sub $250 million segment. The objective is to provide easily accessible and highly digitized products and services that cater to the unique needs of companies within this crucial market.

The move aims to seamlessly integrate the expertise dedicated to high-touch, large business cyber risks with the digital excellence delivered by Beazley’s Digital division. The result is a comprehensive and streamlined service designed to meet the demands of the rapidly evolving cyber landscape.

Beazley’s emphasis on digital innovation seeks to benefit not only the company but also its broker partners. The goal is to facilitate growth while improving access to Beazley’s esteemed cyber ecosystem, which offers comprehensive support before, during, and after cyber attacks. This initiative underscores Beazley’s commitment to providing a holistic and robust cybersecurity solution for businesses across the sub $250 million segment.

Currently serving as the Head of US Cyber and Technology since 2021, Patricia Kocsondy brings to her new role a distinguished career as a cyber underwriter spanning over a decade. The search for her replacement as Head of US Cyber and Technology will commence immediately, ensuring a seamless transition of leadership within the organisation. Beazley remains dedicated to maintaining its position as a pioneer in the evolving landscape of global cyber insurance.

Paul Bantick, Global Head of Cyber Risks, commented: “Beazley’s cyber underwriting continues to grow. Today we underwrite more than $1bn of cyber premium globally and expect significant growth in the sub $250 million market in the coming years, making now the right time for a cyber leader of Patricia’s experience and skill to head the ongoing development of our cyber offering for this important segment of business.”