Beazley profit falls; finance director to retire

Beazley PLC (BEZ.LN) said Friday that its first-half profit fell sharply due to lower investment returns but it delivered strong premium growth, and said its finance director is retiring.

The specialist insurer said it made a pretax profit of $57.5 million for the first half of 2018, down from $158.7 million in the year-earlier half.

The company said it made a 0.2% investment return for the half, as rising U.S. interest rates hit its bond portfolio. However, Beazley said the increased yield on its fixed-income investments should support better returns over the second half.

Beazley’s gross premiums written rose 15% to $1.32 billion. The company said it delivered topline growth across all five of its underwriting divisions, and overall insurance rates rose 3% with particularly strong growth in property insurance.

“We remain on target to achieve double digit premium growth this year, led by our specialty lines and catastrophe related business. Following the catastrophes of 2017, we will experience below average reserve releases from prior years during 2018,” Chief Executive Andrew Horton said.

Beazley declared an interim dividend of 3.9 pence a share, up from 3.7 pence the prior year.

In a separate statement, Beazley said Finance Director Martin Bride will retire from the company in the second quarter of 2019, and it will immediately launch a search for his successor.

We Want to Hear from You

Join the conversation

This content was originally published here.


from Tumblr https://ift.tt/3l4nDqw
via IFTTT

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

2022-07-22 Open Source in Finance Forum - London

Imahe
Open Source in Finance Forum is the only conference dedicated to driving collaboration and innovation in financial services through open source software and standards. We bring together experts across financial services, technology, and open source to engage our community in stimulating and thought-provoking conversations about how to best (and safely) leverage open source software to solve industry challenges. This content was originally published here . from Tumblr https://ift.tt/xXhI2Ya via IFTTT
Magbasa nang higit pa

Teen Who Died of Covid-19 Was Denied Treatment Because He Didn't Have Health Insurance

Imahe
A 17-year-old boy in Los Angeles County who became the first teen believed to have died from complications with covid-19 in the U.S. was denied treatment at an urgent care clinic because he didn’t have health insurance, according to R. Rex Parris, the mayor of Lancaster, California. Roughly 27.5 million Americans—8.5 percent of the population—don’t have health insurance based on the latest government figures . “He didn’t have insurance, so they did not treat him,” Parris said in a video posted to YouTube . The staff at the urgent care facility told the teen to try the emergency room at Antelope Valley (AV) Hospital, a public hospital in the area, according to the mayor. On Thursday, Donald Trump previewed his nightmare plan to encourage state governors and local… Friday’s Best… The name of the urgent care clinic that refused to treat the teen has not been released. Mayor Parris explained in his YouTube video that the 17-year-old is believed to have had no underlying conditions...
Magbasa nang higit pa

Avail #1 Business Management Assignment Help Online Services

Business Management Assignment Help If you look around, you will find that many students look for  business management assignment help. This is because they do not have insight into the topics, and they fail to answer the questions. If you hire our  business management assignment help experts, they will help you comprehend the concepts and help you earn exemplary grades. Why Business Management Assignment Help is Important for Students? Business Management assignments are crucial for students as it helps them improve their: Only through solving assignments, students will be able to test their knowledge. They can check whether they have a thorough insight into business structures, tactics, social media, etc. So, you must treat the assignments like mock tests and take them seriously. Problem-Solving Skills Most of the time, students have to provide solutions for issues in a case study or questions. Thus, through repeated practice, students will get better at providing be...
Magbasa nang higit pa