Beazley says gross written premium totalled $US1.64 billion ($2.3 billion) for the nine months to September 30, up 6% on the corresponding period last year.

Rates on renewal business dropped 2% but claims experience continues to be favourable, the specialist insurer says in a trading update.

CEO Andrew Horton is pleased with the premium growth, achieved despite a highly competitive market.

“In particular, we have continued to see strong growth in our US specialty lines business,” he said.