(Reuters) - Lloyd's of London insurer Beazley Plc posted a 61 percent rise in first-half profit, thanks to a surge in investment income and a drop in catastrophe payouts.
The company, which writes marine, casualty and property cover, reported a pretax profit of $132.9 million (78 million pounds) for the first-half ended June 30, up from $82.3 million a year earlier.
Investment income jumped to $46.8 million, from just $300,000 a year earlier, while claims fell about 4.6 percent to $453.0 million.
The earnings were slightly better than expected, Numis analyst Nick Johnson wrote in a note, adding that investment returns were likely to continue to benefit earnings in the medium term.
Net premiums rose about 17 percent to $889.2 million.
Beazley raised its interim dividend to 3.1 pence from 2.9.
(Reporting by Richa Naidu in Bangalore; Editing by Ted Kerr)