Dublin-based Beazley says it has maintained gross written premium (GWP) for the first nine months of this year, despite rate pressure.

GWP held steady at $US1.55 billion ($1.8 billion), with growth in specialty lines offsetting competitive trading conditions in other areas, according to CEO Andrew Horton.

Rates on renewal business fell 1% across the portfolio, but rates in specialty lines grew 1%.

Rate pressure continues in Beazley’s large-risk, catastrophe-exposed lines such as reinsurance and marine.