Beazley’s COR worsens to 100% in H1 2019
But provider also reveals 189% pre-tax profit jump as new head of broker relations, Lou Ann Layton, states there is “lots of room for growth in the brokerage community”.
Beazley has seen a deterioration in its combined operating ratio to 100% in the six months to 30 June 2019, from 95% in H1 2018.
Chief executive officer Andrew Horton explained that this was due to a multitude of claims, including disaster claims.
However, the insurer also saw a 189% increase in its profit before tax to $166.4m (£133.6m) from its previous $57.5m.
Its gross written premium (GWP) in 2019 reached about $1.48m, which is a 12% rise since 30 June 2018 when the firm’s GWP was $1.33m
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