Beazley Group PLC reported profit before tax in 2022 of $191.0 million compared to $369.2 million, last year. Earnings per share, in cents, was 25.9 compared to 50.3.
Gross premiums written increased by 14% in 2022 to $5.27 billion. Net premiums written increased by 10% in 2022 to $3.88 billion. Revenue was $3.47 billion compared to $3.35 billion.
The Group noted that the slower growth in net premium compared to gross is due to an increase in reinsurance purchased during the period.
Adrian Cox, CEO, said: “We achieved a very strong underwriting result in 2022 with a combined ratio of 89%.”