# Beazley profits dip due to catastrophe claims

Beazley has posted a dip in pre-tax profit to $168.0m (£121.2m) for the year ended 31 December 2017 (2016:$293.2m).

The Lloyd’s insurer’s chief executive officer Andrew Horton stated that this was due to natural catastrophe losses of $175m. Its combined operating ratio further deteriorated to 99% (2016: 89%). However, the provider’s gross written premiums increased by 7% to$2.34bn in 2017, compared to \$2.19bn in the preceding year.

Birmingham
Beazley has previously said that it wants to in