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Beazley premiums beat its expectations, driven by rate increases

By BFN News | 07:59 AM | Friday 06 November, 2020


Insurance company Beazley said gross premiums written exceeded its expectations for the nine months ended 30 September 2020. Gross premiums written increased by 16% year on year to $2,534m, ahead of its expectations, driven by a combination of rate increases, adding exposure in a number of areas, the company said. Premium rates on renewal business increased by 14% and the company recorded a third quarter catastrophe estimate of approximately $80m net of reinsurance. Investment return of $124m as at 30 September 2020, down from $215m seen in Q3. Story provided by StockMarketWire.com

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