Preliminary loss estimate - Superstorm Sandy

RNS Number : 5570T

Beazley PLC

14 December 2012

 



Beazley plc

Dublin, 14^th December 2012

Preliminary loss estimate - Superstorm Sandy

Beazley plc today announced its net losses arising from Superstorm Sandy are currently estimated to be $90 million, based on market losses of around US$20 billion.

The majority of the claims will be covered by catastrophe margins and the company therefore expects a full year 2012 combined ratio in the low nineties.

For further information, please contact:

Beazley plc

Sian Coope

[phone]

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, the US, Asia and Australia.  Beazley manages five Lloyd's syndicates and, in 2011, underwrote gross premiums worldwide of $1,712.5 million.  All Lloyd's syndicates are rated A by A.M. Best. 

Beazley's underwriters in the United States focus on writing a range of specialist insurance products.  In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states.  In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

 

END

 

 

MSCBZLFFLLFLFBQ