Beazley plc quarterly trading statement

Beazley plc quarterly trading statement

Beazley plc has published its September trading statement.

Key highlights (in our view) as follows-

• written premiums +7% to US$4.625bn
• renewal rates flat
• investment portfolio of US$11.4bn returned +4.7% so far
• class commentary
  • cyber - rates have remained stable over last quarter, ransomware claims up
  • property - significant growth
  • specialty risks - competition and surplus capacity affecting pricing

• hurricanes Helene and Milton estimated net losses of US$125m to US$175m
• continuing combined ratio guidance for 2024 of around 80%.
• outlook for 2025 "expecting market conditions which would typically result in slightly lower growth than we have seen this year"
• surplus capital will be returned to shareholders

A complete version of the Trading Statement is available here