Beazley Plc, a Lloyd’s of London insurer, reported a 3 percent fall in first-half pretax profit as premium rates declined for much of the large risk business the company underwrites in London.
The underwriter, which provides marine, casualty and property insurance and reinsurance, said pretax profit fell to $150.2 million in the six months ended June 30, from $154.5 million a year earlier.
However, buoyed by strong growth in its U.S. speciality lines business, gross written premiums rose about 2 percent to $1.12 billion over the period.
Source: Reuters