Beazley Announces 2022 9M Results

The table below provides a breakdown of Beazley’s premium performance by key business areas as of September 30, 2022.

But the insurer also posted a mark-to-market investment loss of $289 million (or 3.6% year-to-date), compared with income of $99 million (or 1.4%) last year. CEO Adrian Cox has commented on this, acknowledging that bond portfolio yields are rising. But higher yields also mean Beasley expects big returns on his investments down the road, he said.

Beazley has issued a claims update that so far this year total natural catastrophes have been within the margin held in reserves for such events, with Hurricane Ian’s original estimate of net reinsurance. said it was about $120 million in value. In the cyber environment, the trend of improving ransomware claim frequency has continued since October 2020, with the latest data showing a 35% decrease in frequency per policy, and changes in premium rates also allowed. A 70% reduction is shown if

Beazley added that it continues to monitor inflation to ensure proper pricing and is cautious in areas where its product sets are most exposed. The impact of inflation on the claims environment was as expected.

Commenting on the results, Cox said: Expected overall rates moderated, but increased demand across many business areas, supporting our growth ambitions… Claims experience for the rest of the year as expected Assuming , we are confident in our guidance of a high combined ratio in the ’80s. ”