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Beazley's gross written premiums buoyed by specialty lines

Published 10/11/2016, 08:13
Updated 10/11/2016, 08:20
© Reuters.  Beazley's gross written premiums buoyed by specialty lines
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(Reuters) - Lloyd's of London insurer Beazley Plc (L:BEZG) reported a 2 percent rise in gross written premiums in the first nine months of the year, buoyed by growth in its specialty lines business.

The underwriter, which provides marine, casualty and property insurance and reinsurance, said gross written premiums rose to $1.67 billion (1.34 billion pounds) in the nine months ended Sept. 30, from $1.64 billion a year earlier.

Beazley said it had filed an application this month with the Central Bank of Ireland to get approval for its Irish reinsurance business to become a European insurance company. If approved, this will allow the company to operate throughout the bloc, even if Lloyd's loses access.

The insurer also said it had moved to larger offices in Atlanta and Paris.

Beazley said it did not expect a very substantial insured loss from Hurricane Matthew.

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