Beazley up as Thai flood losses remain stable

Beazley, the specialist insurer, has managed to avoid any major claims during the first quarter, while losses from the Thai floods of last year have not increased.

Gross written premiums for the three months to the end of March were £465m, up 9% on the same period of 2011.

Investments and cash grew 1% on the prior year to £4.027bn, with the investment return at 1.9% - against 0.9% in 2011.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The rates Beazley is charging for insurance have increased by 2%.

Crucially, the firm says "there has been no adverse development in any of our large loss estimates, including Thailand". This matters because last year was unusually bad for insurers. The floods in Thailand and the earthquake and tsunami in Japan created a very high number of claims.

Shares in Beazley had climbed 1.9% by 09:12.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.