Sydicate Forecasts

Beazley Group PLC
12 March 2003

12 March 2003

                               Beazley Group Plc


Beazley Furlonge, the Lloyd's managing agency owned by Beazley Group plc 
('Beazley'), announces the results of its managed Lloyd's Syndicate 623 in respect
of the 2000 year of account and gives an update on the forecast for the 2001
year of account.

Results

Syndicate 623 delivered profit of 0.6% on capacity for the 2000 year of account.
  This is within the range forecast in December, when the forecasts were last
updated.  This profit is after Names' expenses including managing agent's fees
and commission.  This strong performance continues the syndicate's unbroken
track record of delivering profits to its names.

Forecast

The forecast for 2001 remains breakeven, with the estimate for the World Trade
Center loss remaining at £100m gross and £20m net.  The 2002 forecast is a
preliminary estimate and as there is still significant business on risk, this
forecast assumes a normal loss development pattern and no significant
catastrophes.

Year of Account            Current Estimate           Previous Estimate          Capacity

2001                       (2.5)% - 2.5%              (2.5)% - 2.5%              £215.3m
2002                       10.0% - 15.0%              N/A                        £403m


As announced in December, from 1 January 2003 Beazley Furlonge has managed both
Syndicate 623 and Syndicate 2623 as a single underwriting unit, with a combined
capacity of £660m.

Beazley's maiden results, for the six months ended 31 December 2002, will be
released on 24 April 2003.

Andrew Beazley, Chief Executive of Beazley, commented:

'We are pleased that we were able to deliver profits for the closed year.  2001
benefited from the improvement in terms and conditions and the current
favourable trading environment is expected to continue throughout this year.
Our successful IPO in November means that we have the flexibility to continue to
create value from this positive underwriting environment.'


For further information, please contact:
Beazley Group plc                                      Tel:  [phone]
Andrew Beazley
Arthur Manners
Nicholas Furlonge

Finsbury
Melanie Gerlis                                         Tel:  [phone]
Anthony Silverman




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