24th July 2022

Beazley delivers best half year combined ratio since 2015

Highlights are:
-Profit before tax of $22.3m(30 June 2021: $167.3m)
-Return on equity (annualised) of 1%(15%)
-Gross premiums written increased by 26% to $2,554.9m ($2,035.3m)
-Combined ratio of 87%(94%)
-Rate increase on renewal portfolio of 18%(20%)
-Prior year reserve releases of $92.6m ($95.7m)
-Reserve surplus stands at 5.9% above actuarial estimates (6.6%)
-Net investment loss of $193m(gain of $83.6m)
Adrian Cox, ceo, Beazley, comments:
“We have maintained the momentum of the second half of 2021 with gross premiums increasing by 26% alongside
better than expected claims experience. A challenging investment environment has impacted profit; however I’m
delighted that we have achieved our best combined ratio at a half year since 2015.
We continue to manage actively for inflation and recession and our estimate for the war in Ukraine remains
unchanged. Given the positive experience in the first half of this year we are in a position to update our combined
ratio guidance to high 80s for 2022 assuming average claims experience for the second half of the year.”

Beasley Trends(196 articles)

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