Free Trial Corporate Access


Reactions Copying and distributing are prohibited without permission of the publisher

Beazley's pre tax profits slide 75%

07 February 2012

The re/insurer has reported a substantial drop in profits, but the firm remains positive after seeing the impact of cat claims double in 2011.

Read more: Beazley Financial Results Q4 Andrew Horton Martin Bride Neil Maidment

UK re/insurer Beazley has seen its profits before tax plummet by 75%, hitting $62.7m for the full year of 2011.

The firm posted pre-tax profits of $250.8m in 2010.

Beazley did, however, report a combined ratio of 99%, and attributed the rise from last year's figure of 88% to catastrophe related claims.

In 2010, cat claims comprised only 8% of its combined ratio, but last year, that figure doubled to 16%.

Noting the impact of the cats of the first half of 2011, and the Tohoku Earthquake in particular, Beazley CEO Andrew Horton remained positive about the strength of the firm.

"We're pleased to make an underwriting...




  • Tropical Storm Nine (09W) 11 Jul 2014 - Tropical Storm Nine (09W) is active in the West Pacific basin and ...
  • Typhoon Neoguri 11 Jul 2014 - As of early (UTC) Friday 11 July, Neoguri (1408) was located over ...
  • Hurricane Arthur 10 Jul 2014 - The first named storm and hurricane of the 2014 Atlantic hurricane season, ...
For more catastrophe reports, data and news, click through to the RMS/Reactions Catastrophe Centre.