This insurer has potential to boost profits at time of inflation fears
Telegraph
23-05-17 06:00
Beazley announced average premium-rate increases of around 10% for contract renewals in its Q1 update, boosting profits for the non-life insurer, despite ongoing debate over war exclusions for cyber crime. A $400m fundraising move in late 2022 strengthens the company's hand to allow it to take further advantage of the firm pricing environment. Gross premiums written rose by 12% year-on-year in the first quarter to $1.4bn, propping up expectations of a 15% increase in gross premiums written to $6.1bn ongoing. Beazley's reaching of the mid-teens growth rate aligns with management's guidance.