Beazley GWP rises by 27%

Dublin-domiciled Beazley has reported pre-tax profit up 15% to £100.7m (2008: £87.2m) and an underlying profit before income tax up 259% to £147.3m (2008: £41.0m).

Gross written premiums were up 27% to £1.12bn (2008: £875.7m) while rates increased by an average of 3% (2008: 6% decrease).

The Lloyd's insurer's combined ratio was stable at 90% (2008: 90%) and it

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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