Acquisition-hungry Beazley still in profit
Lloyd’s insurer Beazley reported a profit of $62.7m, down 75%, despite catastrophe losses and said it had a war chest of more than $400m to buy Hardy, other Lloyd’s businesses or European insurers struggling with solvency II.
Finance director Martin Bride said Beazley had $200m of its own cash available and a loan facility of a further $225m – recently increased from $150m.
He said it was well advanced with Solvency II
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