Beazley posts 14% GWP growth as profits nearly halve in 2022


Beazley has reported gross written premiums of $5.27bn (£4.4bn) for 2022, up by 14% on the year before.

However, pre-tax profit fell year-on-year from $369.2m to $191m.

The near 50% drop was driven by investment losses of $179.7m compared to a profit of $116.4m in 2021.

The annual result mirrored the half-year figures where the insurer also flagged investment returns hitting the bottom line.

The provider stated that it had achieved a “very strong underwriting result”.

Related Beazley delivers improved COR but profits down on investment returns Beazley raises £350m as it

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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