Thank you for visiting Alpha. You have now logged out.

To access the Alpha Private Client Area please login above with your username and password.

If you wish to register with us please contact:

Alpha Insurance Analysts Ltd, 107 Fenchurch Street London EC3M 5JF

T: 020 7767 3420 E: info@aianalysts.com

Login Required

The Market News articles are for registered members only. Please input your email and provided password within the client login box at the top right of this page to view our articles in full.

Alternatively you can register for access to our Market News from HERE.

Forgotten Passwords

If you have forgotten your password please click HERE

or contact us below:

Tel: 020 7767 3433
Fax: 020 7022 8781
Email: info@aianalysts.com

Thank you!
Alpha Insurance Analysts Ltd


Notice: Undefined index: client_login_id in /var/www/vhosts/aianalysts.com/httpdocs/wp-content/themes/rttheme18/header-design2.php on line 58

Welcome
Notice: Undefined variable: user_data in /var/www/vhosts/aianalysts.com/httpdocs/wp-content/themes/rttheme18/header-design2.php on line 76

Notice: Trying to get property of non-object in /var/www/vhosts/aianalysts.com/httpdocs/wp-content/themes/rttheme18/header-design2.php on line 76
to the Alpha Private Client Area.

Click on the Private Client Area icon to view information relating to your personal underwriting through Alpha.

Visit Market News to read Alpha’s commentary on events and listen to audio files of Alpha meetings and other events on Diary Dates.

Beazley plc, the owner of Beazley Furlonge Ltd, (including syndicates 623, 6107 & 5623) has announced its 2018 calendar year results.

A summary of the key ratios is set out below:

 

 

2018 2017 change
Gross written premium $2,615m $2,344m 12%
Combined ratio 98% 99% 1pts
Investment return $41m $138m (70%)
Reserve release $115m $204m (44%)
Profit before tax $76m $168m (55%)

Andrew Horton, Chief Executive Officer, said:
“Beazley saw strong growth in 2018 with gross premiums written rising 12%. Our US business has been growing extremely well and we underwrote more than a billion dollars of premium locally for the first time in the US last year. Although market conditions were challenging, depressing our earnings, we entered 2019 with positive premium rate momentum and higher interest rates that should deliver stronger returns going forward.”

Click here for access to the full report.

Alpha comment: despite premium growth and a small improvement in the combined ratio, the above figures show a reduced profit, driven by falling reserves releases and investment returns. Given the well above average heavy hurricane activity suffered in 2017 and the positive rating movements in the meantime, and the reduced hurricane activity for 2018, we might have expected 2018 to have produced better results by comparison. That said, Beazley tend to be very conservative in their reserving of losses. Although the property and reinsurance divisions benefited most from the improving rate environment, these were the two divisions to produce loss making combined ratios for 2018, at 125% and 103%, respectively. We would expect these two areas to be the focus of any remedial action to get group combined ratio back towards the low 90s. The newly promoted Chief Underwriting Officer, Adrian Cox, has an early opportunity to make his mark.