Profit halves at insurer Beazley on natural disaster losses and a poor investment environment February 7, 2019 Insurer Beazley today blamed natural disasters and a poor investment environment for its profit falling by more than 50 per cent in 2018. Beazley’s 2018 profit before tax was $76.4m (£59.1m), down from $168m, while earnings per share fell from 19.5p in 2017 to 9.7p last year. Read more: Beazley hurricane costs reach $105m The [...]
Fires and explosions cause largest value losses for businesses and insurers globally December 13, 2018 Fires and explosion are the cause of the largest claims for insurers and the businesses they cover. Analysis of over 470,000 global insurance claims from 2013 to 2018 with a value of €58bn (£52bn) by insurer Allianz Global Corporate & Specialty shows the largest financial losses come from fires and explosions. Over the past five [...]
Beazley takes $40m hit from worst wildfires in California history December 6, 2018 The deadly wildfires which ripped across California this year burnt a $40m (£31.5m) hole in insurer Beazley’s pockets. The payouts from reinsurance hit the company’s bottom line after fires damaged several settlements and killed dozens in the US’s most populous state. It also faces challenges from difficult markets. “Investment markets continue to be volatile and [...]
City skyscraper Twentytwo set to lure in another insurer November 20, 2018 The City's tallest skyscraper is expected to land yet another major insurance tenant in the coming weeks, with news this afternoon that broker THB Group is in talks to rent 35,000 square feet of space. THB Group is set to become the third insurer to move into 22 Bishopsgate, known as Twentytwo, once construction is completed [...]
Beazley hit with $105m hurricane costs November 8, 2018 Lloyds of London insurer Beazley today said it expects costs of roughly $105m after a series of natural disasters in the US and Asia. Beazley said the payouts following hurricanes Florence and Michael and typhoons Jebi and Trami are in line with expectations. But the insurer, which covers a range of areas including kidnapping and [...]
Insurer Beazley becomes second tenant in City skyscraper Twentytwo October 10, 2018 The City's tallest skyscraper has landed its second major tenant – specialist insurer Beazley – in a sign of the bumper year for insurance take-up in the Square Mile. City A.M. can reveal the FTSE 250 insurer is set to take 50,000 square feet (sq ft) over two floors at 22 Bishopsgate when construction is finished [...]
Beazley share price rises as insurer reveals profit up 61 per cent July 22, 2014 Insurer Beazley saw its share price close four per cent up yesterday, after it announced strong results for the past six months of trading. It revealed profit before tax was up a whopping 61 per cent, helped by strong investment returns and a lack of major catastrophic events. Net premiums written were up 17 per [...]
Beazley beats analyst forecasts thanks to fewer catastrophes February 6, 2014 BEAZLEY saw its share price jump 5.76 per cent yesterday, after it issued strong results for 2013 trading. The specialist insurer beat analysts’ expectations to issue a pre-tax profit of $313.3m (£191.9m) for last year, up 25 per cent on 2012. Chief executive Andrew Horton said: “Beazley delivered an exceptional underwriting performance in 2013, reflected [...]