Beazley’s investment in its recently established Bermuda operation continues at pace, while the company is also continuing to build-out its cyber insurance-linked securities (ILS) capabilities and joint-venture with an established ILS manager, CEO Adrian Cox said today. Recall that Beazley established its Bermuda operations last year and the plans have a significant cyber ILS focus, including a planned joint-venture with an established ILS market player with a platform on the island. The parametric team will join the Bermuda team onshore during the summer and continue developing a broad, global book of business. Cox’s comments suggest these plans are well-underway and likely on-track, so more details on the cyber ILS fund venture are likely to become available later this year. Also of note in Beazley’s results statement today, Adrian Cox commented on property market conditions, saying they are “fiercely competitive” still.