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Beazley posts dip in post-tax profits

dollars-perspective

GWP rises for first six months of 2016.

Beazley has reported a 3% drop in post-tax profits for the start of 2016 to $128.8m [£97.1m].

Profit before income tax for the six months reduced by the same amount from $154.5m in 2015 to $150.2m this year.

However, gross written premium for the half year rose by 2% to $1.12bn (H1 2015: $1.1bn).

Brexit
The insurer reported that the Brexit vote "will undoubtedly complicate planning for many businesses based in the City of London".

The company stressed that it did not expect the impact of the

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