Beazley avoids catastrophe
HURRICANES Harvey, Irma and Maria and Mexican earthquakes have blown a $150million (£112million) hole in Lloyd’s of London insurer Beazley’s annual earnings.
But shares in the FTSE 250 company, which put the net cost of the catastrophes at $175-275million, rebounded 19¾p to 479½p after recent weakness with relief that the impact was not more severe.
It said: “There is significant uncertainty surrounding the cost of these events. A further update will be in the trading statement on November 9, at which time we should have much more information.”