Beazley reports interim results
Beazley plc has reported its interim financial results for the six months ended 30 June 2010, including net profits of $115.5m, almost fourfold the $30.1m made during the corresponding period last year.
Gross written premiums increased by 5% to $940.6m, and net writen premiums surged by more than a fifth (21%) to $621.1m.
The interim dividend increased marginally from 2.3p to 2.4p.
Chief Executive Andrew Horton has described the half-year result as strong, in a period notable for a high level of competitiveness and a number of catastrophe losses.
Horton forecast that the competitive aspect of the sector is likely to continue.
He added that investment yields remain low, putting upward pressure on premium rates.
Category: Insurance News
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