Profits at Beazley tumbled last year as the insurance firm was stung by claims linked to several natural disasters in the US and Japan. Profits at Beazley tumbled last year as the insurance firm was stung by claims linked to several natural disasters in the US and Japan. Beazley paid out 110 million dollars (£85 million) to clients afflicted by a spate of natural catastrophes, which included two hurricanes in the US, Florence and Michael, and two typhoons in Japan, Jebi and Trami. Although market conditions were challenging, depressing our earnings, we entered 2019 with positive premium rate momentum. “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.”Press Association

Source: Irish Independent February 07, 2019 08:13 UTC