Beazley posts 3% pre-tax profit rise
Insurer reports 6% GWP increase, but a slightly deteriorating COR for 2016.
Beazley has revealed a 3% increase in pre-tax profit to $293.2m (£234.7m) for the year ended 31 December 2016.
The provider further posted a 6% rise in gross written premiums to $2.19bn for the year, compared to $2.08bn in 2015.
Its revenue increased to $1.89bn in 2016 from $1.79bn in the preceding year.
However, its combined operating ratio deteriorated slightly to 89% compared to 87% in 2015, as a result of an increased expense ratio, higher commissions paid to brokers and investment in the
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