Beazley reports positive marine price moves in Q1

Insurer and reinsurer Beazley wrote GPW of $71m in the marine sector in Q1 2018, up slightly from the $69m in GPW in the same period last year. It reported a positive rate movement of 2% year on year The group had GPW of $631m in Q1 2018, up from $573m in Q1 2017. Rate movement was plus 3% overall. Beazley CEO Andrew Horton said that “Beazley made a strong start to 2018 with premium growth of 10% on average across the portfolio. We have also seen rate increases across many lines of business as the market recalibrates its pricing in the wake of the high catastrophe activity seen in late 2017.”