Company posted a profit before tax of $502.5 million for the first half of 2025, a 31% decrease
LONDON: Beazley plc, the specialist insurance company, announced Wednesday a profit before tax of $502.5 million for the first half of 2025, a 31% decrease from the $728.9 million reported in the same period last year.
The results come as the company prioritizes disciplined growth and long-term profitability over short-term income.
Despite the drop in profit, Beazley saw a modest increase in insurance written premiums, rising 2% to $3.19 billion from $3.12 billion in the first half of 2024. The company’s undiscounted combined ratio, a key measure of underwriting profitability, was 84.9%, compared with 80.7% in the previous year. A lower combined ratio indicates better performance.
Adrian Cox, CEO of Beazley, highlighted the company’s strategic approach.
“We are very proud of our overall performance,” Cox said in a statement. “Growth of 2.0% reflects our disciplined approach and is fully aligned with our strategy of prioritising rate adequacy and long-term profitability over short-term income.”
Cox added that the company’s experience in a cyclical environment allows it to adapt to periods of elevated uncertainty.
The company’s return on equity for the period was 18.2%, down from 28.4% in the first half of 2024. Earnings per share also fell to 52.5 pence from 68.7 pence.
Beazley reaffirmed its full-year guidance for an undiscounted combined ratio in the mid-80s but updated its premium growth guidance to low-to-mid single digits.