Beazley sees threefold profit growth
Beazley has reported profit after tax of $214.6m [£136.4m] for 2012, up 320% from the $65.8m reported for 2011.
Gross written premium increased by 11%, from $1.7bn in 2011, to $1.9bn last year.
Net earned premiums for the UK, which represents all risks placed at Lloyd’s, came in at $1.45bn for 2012, compared with $1.36bn the preceding year.
And combined ratio improved to 91%, from 99% in 2011.
Andrew Horton, Beazeley CEO, commented: “Beazley performed very strongly in 2012, delivering double digit premium growth and record profits.
“We continue to add new products and lines of business to our diversified
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