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Beazley premiums beat its expectations, driven by rate increases
StockMarketWire.com
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Insurance company Beazley said gross premiums written exceeded its expectations for the nine months ended 30 September 2020.
Gross premiums written increased by 16% year on year to $2,534m, ahead of its expectations, driven by a combination of rate increases, adding exposure in a number of areas, the company said.
Premium rates on renewal business increased by 14% and the company recorded a third quarter catastrophe estimate of approximately $80m net of reinsurance.
Investment return of $124m as at 30 September 2020, down from $215m seen in Q3.
Story provided by StockMarketWire.com
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