Beazley Group PLC said Wednesday it has appointed Adrian Cox as CEO, effective April 1. He will succeed current CEO Andrew Horton, who is leaving the company to become group CEO of QBE Insurance Group Ltd. of Australia.

Mr. Horton, who has served as Beazley CEO since 2008, will remain with the company until the end of March, Beazley said in a statement.

Mr. Cox has been with Beazley for 20 years, most recently as chief underwriting officer, and a member of the board since 2010.

In a separate statement, QBE said Mr. Horton will take up his role as group CEO Sept. 1 and be based in Sydney.

Mr. Horton replaces Richard Pryce who had been appointed as interim group chief executive of QBE last October after group CEO Pat Regan left the company after almost three years in the role.

Mr. Horton is “an inclusive and collaborative executive, who places a strong focus on risk, culture and relationships,” Mike Wilkins, QBE chairman, said in the statement.

Mr. Pryce will move to an advisory capacity once Mr. Horton takes up the CEO role, before retiring from QBE in December 2021, QBE said.

Following Mr. Cox’s appointment, and as Beazley conducts the search for a new CUO, Bethany Greenwood, group head of cyber and executive risks, and Tim Turner, group head of marine, will take on additional responsibilities.

Ms. Greenwood will be interim CUO of long tail underwriting (cyber and executive risk and specialty lines). Mr. Turner will be interim CUO of short tail underwriting (marine, market facilities, political, accident and contingency, property and treaty), Beazley said.

Mr. Cox is well placed to undertake the CEO role, having held a variety of positions during his tenure at Beazley, Mr. Horton said in the company’s statement. “I am pleased to be leaving the group in such capable hands,” he said.

Beazley continues to expect double-digit revenue growth in 2021 with a combined ratio in the low nineties, it said in the statement. The London-based specialty insurer reported a pretax loss of $50.4 million in 2020 mainly due to COVID-19-related claims.