Beazley plc has reported net insurance written premiums of approximately £2.9bn for the nine months to 30 September 2024. This is up by 7% on the same period last year. It said that premium rates on renewal business had been flat, compared to the 5% rise that was recorded in 2023. The carrier said it expected to achieve a combined ratio for the year of around 80%.

Adrian Cox, chief executive officer at Beazley, said: “I am extremely proud of how our business has navigated the volatile claims environment we have seen so far this year. Our commitment to disciplined underwriting and our risk selection expertise mean that, despite an active hurricane season and a global cyber event, we expect to deliver an undiscounted combined ratio of around 80% for the full year, consistent with our guidance at our interim results in August.”