Specialist insurer Beazley Plc has outlined how it performed in the first quarter in a trading statement.
Here are the numbers for Beazley:
|
Metric |
Q1 2023 |
Q1 2022 |
|---|---|---|
|
Gross written premium (GWP) |
US$1.37 billion |
US$1.23 billion |
|
Net written premium |
US$1.07 billion |
US$859 million |
|
Investments and cash |
US$9.08 billion |
US$7.79 billion |
Broken down by business division, cyber risks, digital, and property risks posted growth in GWP; MAP risks – spanning Beazley’s marine, aviation, political, accident, contingency, and portfolio underwriting – and specialty risks both reported a decline.
“The first quarter saw us deliver good headline growth in line with our expectations, underpinned by growth in property, where we are taking advantage of the excellent and continuing market conditions,” chief executive Adrian Cox said.
“Our diversified business, together with our ability to adapt according to the underwriting pricing cycles, allow us to adjust as opportunities and challenges emerge. We are positive in terms of our outlook for the first half and are confident of delivering our full year guidance.”
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