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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
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.
BS
-
Sachin Dev Duggal's Builder.ai – the first big AI bustSachin Dev Duggal's Builder.ai start-up claimed it could use artificial intelligence to build apps. Its revenues turned out to be equally artificial
-
How Trump's dog deals will damage global trade with the USOpinion Some commentators are hailing Trump’s trading savvy. Are they right?
