Beazley sees rates go backwards on renewals as it hits $115.5m profit
Lloyd's insurer Beazley achieved a profit before tax of $115.5m (2009: $30.1m). It added the profit before income tax and earnings per share includes an exceptional foreign exchange gain of $33.7m.
The insurance group recorded gross written premiums up 5% to $940.6m; net written premiums up 21% to $621.1m; and rates on renewal business down by 2% across the portfolio.
Andrew Horton, chief
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