Beazley has announced that insurance written premiums in the six months to 30th June 2024 were approximately £2.4bn, up from the £2.3bn announced in the first half of 2023. The carrier said profit before tax increased to £572m, almost double the £287m recorded for the same period the previous year. Its undiscounted combined ratio improved to 81% from 88%.

Adrian Cox, CEO of Beazley, said: “Expertise in underwriting and active risk selection are key drivers of this strong result, even as the rating environment is moderating… We see opportunities in the remainder of the year and are confident in delivering on our high single digit growth guidance. We are also pleased to confirm that we have improved our undiscounted combined ratio guidance for the full year to around 80%.”