Beazley plc achieved insurance written premiums of approximately £1.1bn in the three months to 31st March 2025, up by 2% on the same quarter the previous year. However, it saw premium rate fall across its major lines of business. In cyber, it said rates were down by 8%, in property they fell by 6% while in digital and MAP risks [marine, aviation, political risk and terrorism] the dips were 4% and 2% respectively. The carrier said rates in its speciality lines division held steady.

Adrian Cox, chief executive officer at Beazley, said: “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.

“Our guidance for the year of mid-single digits growth and an undiscounted combined ratio of mid-80s is unchanged. 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.”