Beazley's pre-tax profit falls 64% in H1 2018

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Beazley has reported a 64% drop in pre-tax profit for the half year ended 30 June 2018.

The provider posted a pre-tax profit of $57.5m (£44.1m) for the six month period, compared to $158.7m in the first half of 2017.

Beazley noted that its profit had been impacted by reserve strengthening in its property division and a lower investment return than the same period in 2017.

It added that this was caused by a marked rise in US interest rates, and that higher yields should benefit investment

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