Beazley PLC (LSE:BEZ), the insurance company, was one of the leading the FTSE 100 risers on Wednesday after launching a new cyber risk management firm.
Shares lifted around 2% after the group revealed it had merged its own in-house cyber services team with its subsidiary and fellow cyber security firm Lodestone.
Beazley Security will look to combine its parent company's risk management services with the cyber security services offered by Lodestone.
Alton Kizzaiah, the current CEO of Lodestone, will take up leadership of the new firm, with him reporting directly to Beazley's head of cyber risks.
“Building cyber resilience is top of mind for business leaders and Beazley Security has been created to bring responsive cyber protections to the heart of the fight against ever-evolving threats. I’m excited to lead an outstanding team of specialists committed to providing clients with confidence and peace of mind,” Kizziah said.