Insurer Beazley has reported gross written premiums of approximately £2,262.8m for the six months to 30 June 2023. This was up by 13% of the same period last year. It said premium rates on renewal business increased by 5%, building on the 18% rise recording in the same period last year.

Adrian Cox, chief executive officer at Beazley, said: “The excellent conditions in the property market persisted into the second quarter and we continued to take advantage of those, delivering a strong performance on growth for the group in the first half of 2023.

“With premium written in line with our expectations, we are confident of delivering our growth guidance for the year.”

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