Beazley releases Q1 trading statement

CEO confident full-year guidance will be met

Beazley releases Q1 trading statement

Insurance News

By Terry Gangcuangco

Specialist insurer Beazley Plc has outlined how it performed in the first quarter in a trading statement.

Here are the numbers for Beazley:


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.”

What do you think about Beazley’s trading update? Share your thoughts in the comments below.


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