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Insurer Beazley Swings Back to Profit as Claims Abate

Lloyd's of London insurer Beazley swung to a first-half profit as claims fell back to more normal levels following a sharp catastrophe-induced increase a year ago.

By Reuters | Updated on July 23, 2012

LONDON, (Reuters) – Lloyd’s of London insurer Beazley swung to a first-half profit as claims fell back to more normal levels following a sharp catastrophe-induced increase a year ago.

Beazley said on Friday it made a pretax profit of $113 million in the six months to June, compared with a loss of $24.2 million in the 2011 period and forecasts for $100-$110 million.

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