At the start of last year, Beazley launched its own dedicated ESG syndicate to meet demand from the investment community that had started to look at ESG as a key metric in their decision making. Beazley's syndicate 4321, a follow only that uses the same technology as its "smart tracker" syndicate 5623, provides additional capacity for existing clients that have a strong ESG rating. Speaking to Insurance Day at the end of last year, Beazley's head of portfolio underwriting Will Roscoe said he hoped 2023 would be the year the ESG syndicate "really takes off". Earlier Hiscox reported its full-year underwriting profits increased 25% in 2022 to a 15-year high of $269.5m despite the year's high level of catastrophe losses.