Home / International / Beazley improves despite claims spike
13 May 2019
Beazley’s gross written premium (GWP) increased 16% to $US731 million ($1.04 billion) in the three months to March 31.
Premium rates for renewal business were up 3% in the period.
The new specialty lines division and the cyber and executive risk division increased GWP by $US39 million ($55.67 million) and $US25 million ($35.69 million) respectively, compared with the corresponding period last year.
The insurer’s gains came despite above-normal claims levels in the marine, property and reinsurance businesses.
Meanwhile, Nicola Hodson and John Reizenstein have been appointed non-executive directors, and Richard Montminy will join Beazley this month to lead the property division.