New specialist energy business led by ex-Swiss Re leader enters Lloyd’s market

Insurance investor  Beat Capital Partners has launched a new energy underwriting business in London under the leadership of a former Swiss Re, Hannover Re and Hiscox senior executive. It will initially write non-US business focussed on transition to net zero.

Beat and Chris Charlton have unveiled Horace Agency, a specialist energy underwriter. Horace will focus exclusively on onshore and offshore energy insurance worldwide outside the US.

Horace said it will focus on clients transitioning to a net zero environment, initially writing on behalf of Lloyd’s Syndicates 4242 and 1416, among other participants.

Based in London, Charlton, CEO, brings more than 25 years’ market experience to the business. He most recently held the position of chief underwriting officer (CUO) and head of London at Barents Re, having originally joined the business as head of energy in 2013. Prior to his tenure at Barents Re, Charlton held a number of senior positions including head of offshore energy at Swiss Re; senior underwriter, facultative marine and energy at Hannover Re, and as an underwriter at Hiscox.

“I am excited to partner with Beat to establish this new energy underwriting business. At a time of unprecedented change for the energy sector, we believe our business partners will benefit from experienced teams who are dedicated to finding solutions for clients,” said Charlton. “We look forward to building on these relationships in the future.”

Beat has launched ten businesses since its founding in 2017, which are expected to collectively write gross premiums estimated in excess of $650 million in 2023. It operates Lloyd’s Syndicates 4242 and 1416.

John Cavanagh, chairman of Beat, said: “Beat is in the business of supporting entrepreneurs of proven talent and Chris, with an outstanding track record of over 25 years, exemplifies what we look for. The combination of his impressive background, market reputation and expertise make us excited about the prospects for Horace.”

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