Beazley reports "robust" profit in 2021 results
The provider turned a $50.4m (£37.1m) into a pre-tax profit of $369.2m (£272.1m) for the year ended 31 December 2021 while also seeing its GWP shoot up by 30%.
Beazley has posted a pre-tax profit of $369.2m (£272.1m) for the year ended 31 December 2021, up from a loss of $50.4m (£37.1m) in 2020.
The provider’s gross written premium also shot up by 30%, going from $3,563.8m in 2020 to $4,618.9m for the end of 2021.
Its rate increase on renewal portfolio increased by 24% in 2021, up from 15% in 2020. The insurer’s net written premiums also jumped by 20%, reaching $3,512.4m (2020: $2,917m).
Meanwhile, its combined ratio reached 93%, compared with 109%
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