Cyber market boosts Beazley’s “robust profit” Beazley results International insurance firm Beazley has reported a “robust profit” of $369.2m as a result of opportunities increasing in the cyber market. The firm said that, in the six months ended 31 December, its return on equity went up to 13 per cent on 2020 levels to 16 per cent, while its gross premiums written surged [...]
Beazley gross premiums soar above expectations to £2.4bn Beazley gross premiums soar above expectations to £2.4bn Insurer Beazley has reported high-than-expected gross written premiums of $3.3bn (£2.4bn), driven by their cyber & executive risk and specialty lines divisions. Gross written premiums rose by 29 per cent for the nine months ended 30 September compared to last year, the insurance company announced in a trading statement today. Underwriting action since last October, [...]
Beazley shares pop as insurer heads back to the black Beazley shares pop as insurer heads back to the black Shares in insurer Beazley popped this morning after the FTSE 250 firm said that it had swung back into profit in the first half. By midday, the firm’s stock was up 7.0 per cent at 386.60p, their highest levels in 10 months. For the period, it posted profit of $167.3m, up from a $13m loss [...]
Beazley sees premiums rise but flags $70m loss from US storms May 13, 2021 Insurance firm Beazley today said that its gross written premiums jumped nearly a fifth in what it labelled a “positive” start to 2021. The firm said that gross premiums written increased by 16 per cent to $971m in the first quarter, up from $840m in the same period last year. It added that its estimated [...]
Insurer Beazley appoints new CEO as Horton leaves for QBE March 3, 2021 Beazley has today announced that its CEO Andrew Horton will leave the company to take over at QBE Insurance Group in Australia. Adrian Cox has been appointed as his replacement, having worked under Beazley for 20 years. He has over 25 years of industry experience, most recently as the firm’s Chief Underwriting Officer. “I am [...]
Exclusive: ‘Pool Re’ style scheme could help insurers fund Covid-19 cover, says Beazley CEO February 5, 2021 The CEO of insurer Beazley is hopeful that insurers will be able to provide cover against infectious diseases like Covid-19 in the future, but said a government backstop may be needed to press ahead. It is not possible to get insurance on Covid-19-related cancellation cover on events this year, because the chances of an event [...]
Beazley boss upbeat on 2021 after COVID-19 losses November 24, 2020 By Muvija M and Carolyn Cohn LONDON (Reuters) – Next year could be one of Beazley’s strongest for more than a decade, the Lloyd’s of London insurer’s chief executive said on Tuesday, with the industry likely having already absorbed the bulk of its losses from the coronavirus pandemic. “We hope that the COVID-19 claims are [...]
Insurer Beazley slips into underwriting loss as catastrophe costs jump November 6, 2020 London-based specialist insurer Beazley said this morning that it would slip into an underwriting loss for the year, as the company set aside $80m million to pay out catastrophe claims. The group also reiterated its pandemic-related loss estimate. “Our initial estimate of the costs of the third quarter catastrophe events including hurricanes Laura and Sally [...]
Beazley’s annual profit balloons as premiums jump February 6, 2020 Beazley’s 2019 profit was boosted by higher insurance rates after a long period of erosion, sending the underwriter’s shares 6% higher to the top of UK’s midcap index. Beazley, part of the oldest insurance market in the world, was able to raise its premium rates last year after a string of industry-wide catastrophe claims led [...]
Beazley profits almost triple as policy premiums rise July 23, 2019 Beazley has raised its outlook as profits more than doubled in the first half of its financial year, with the insurer hailing higher policy rates after years of expensive payouts for natural disasters. Read more: Profits halve as Beazley endures natural disaster losses The figures Beazley recorded higher profit before tax of $166.4m, an increase [...]