Specialist insurer Beazley has reported that its insurance written premiums reached $1.51 billion in Q1 2025, representing a 2% increase compared to the same period in 2024.<\/p>\n

$\"Beazley$ Breaking down the Q1 2025 total, the Property Risks division contributed $482 million, Specialty Risks $461 million, MAP Risks $258 million, Cyber Risks $247 million, and the Digital division $63 million.<\/p>\n

Providing some insight into these respective business divisions, Beazley noted that the market remains competitive in Cyber Risks.<\/p>\n

“We continue to focus on our strong value proposition, underwriting discipline and deploying capital where we see the best risk-reward dynamics. Rate adequacy is strongest outside of North America and we are seeing good growth in Europe. Our view of the long-term opportunities available within Cyber Risks is unchanged,” the firm added.<\/p>\n

Meanwhile, geopolitical uncertainty is expected to drive demand within MAP Risks, with Beazley noting that its Q1 result for MAP is particularly impacted by premium estimate updates and it anticipates strong growth within the division by year-end.<\/p>\n

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Speaking on its largest segments, Beazley said, “Property Risks continues to deliver growth with rates remaining adequate despite the 6% rate reduction in the first quarter.<\/p>\n

“Capital markets activity has remained subdued at the start of the year, which impacts growth on certain products within Specialty Risks. We continue to expect growth to be flat to moderate within this division.”<\/p>\n

Beazley reported improved investment income of $136 million in Q1 2025 and noted a 4% decrease in premium rates on its renewal business during the quarter, compared to a 1% increase in the same period of 2024.<\/p>\n

Regarding claims, the firm stated that its exposure to California wildfire losses remains around $80 million, consistent with its 2024 year-end results<\/a>.<\/p>\n

Beazley further noted that it has no direct claims exposure arising from the trade tariffs imposed, whether in its political risk, trade credit, or specialty portfolios.<\/p>\n

“Increases in tariffs are not insured perils under our policies, and we do not cover business interruption losses following these events,” the firm said.<\/p>\n

Adrian Cox, Chief Executive Officer, commented, “I am proud of the performance during the quarter. As expected, markets softened in the first three months of the year and we maintained our focus on strong underwriting discipline whilst navigating those conditions.<\/p>\n

“Our guidance for the year of mid-single digits growth and an undiscounted combined ratio of mid-80s is unchanged.<\/p>\n

“The strength of our diversified product set and platform strategy means we are well positioned to take advantage of any opportunities which may arise, as pricing dynamics evolve in this active claims environment.”<\/p>\n

The post Beazley’s premiums reach $1.51bn in Q1’25 as growth momentum continues<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"