Beazley plc, (BEZ.L), a provider of risk insurance and reinsurance products and services, Thursday reported a increase in gross premiums written for the three-month period ended March 31 to $518 million from $465 million.
The company stated that the increase was attributable to the marine division, where the premiums increased by 24 percent due to growth in the marine liability book and as a result of the new aviation team that started writing business in the fourth quarter of 2012. Premiums in the reinsurance division saw growth of 20 percent. Across the portfolio rates increased by 2 percent, and most notably the specialty lines rates increased to 4 percent, the company said in a statement.
Investment income for the three months to March 31 was $26.3 million.
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