AGM Trading Statement

Beazley Group PLC
20 June 2005


                                                                    20 June 2005

                                Beazley Group Plc
                              AGM Trading Statement

At its Annual General Meeting being held at 16h00 today, Beazley Group Plc
('Beazley'), one of the Lloyd's market leaders, will update on current trading,
as below:

Current Trading

Underwriting conditions to 31 May 2005 have generally remained favourable and in
line with our expectations. The combined syndicates' (2623 and 623) gross
written premium (net of brokerage) to 31 May 2005 was £322m, compared to £308m
for the previous year. The group's share of this is £225m in 2005 compared to
£166m in 2004.

The average renewal rate reduction for the period was 2%, in line with our
expectations. Rates across all classes have been maintained at profitable
levels.

The forecast profit for our managed syndicates has improved for 2003 to a range
of 10.5%-15.5% of capacity from 10%-15% and remains unchanged for 2004 at 3-10%
of capacity.

Beazley USA, comprising a managing general agent writing business on behalf of
the Lloyd's syndicates and our recently acquired US admitted insurance
subsidiary, Beazley Insurance Company, Inc, has made further progress. It now
has 25 employees in six offices in the United States and is beginning to write
new business. It has taken us slightly longer than originally envisaged to get
to this point as we have focused our energies on recruiting the best staff,
which cannot be rushed. This will have no effect on the group's profits for the
year. The subsidiary aims to be a nationwide network over time and will be rated
by A.M. Best shortly.

Jonathan Agnew, Chairman of Beazley, said:

'We are pleased that trading conditions remain favourable across our business
areas in 2005. Our underwriters remain focused on developing well-diversified
portfolios and we continue to invest in opportunities that grow Beazley's
business in a defined and disciplined way.'

Beazley Plc will be announcing its interim results on 7 September 2005.

For further information, please contact:

Beazley                                Tel: [phone]
Andrew Beazley
Andrew Horton
Nicholas Furlonge

Finsbury                               Tel: [phone]
Melanie Gerlis
Amanda Lee


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