Bea­z­ley avoids catas­tro­phe

Daily Express - - CITY & BUSINESS -

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.”

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