Trading update: CA wildfires & investment returns

RNS Number : 5966J

Beazley PLC

06 December 2018

 

Press

Release

Beazley plc

London, 6 December 2018

Trading update - California wildfires and investment returns

Beazley plc ("Beazley") publishes the following trading update following its board meeting on 5^th December 2018.

The board's early estimate of the cost of claims arising from the 2018 California wildfires is $40m, net of reinsurance.

Investment markets continue to be volatile and our year to date investment return to 30 November 2018 is 0.5% ($27m).

For further information, please contact:

Beazley plc

Martin Bride

[phone]

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, United States, Canada, Latin America and Asia. Beazley manages seven Lloyd's syndicates and, in 2017, underwrote gross premiums worldwide of $2,343.8 million. All Lloyd's syndicates are rated A by A.M. Best. 

Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

 

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