Profits tumble at insurer Beazley

Shares in Beazley came under pressure after the insurer blamed lower investment returns for sending profits down 64 per cent in the first half of the year.

It said it suffered a significant drop in pretax profits, which tumbled from $158.7 million (£122m) to $57.5m in the six months to 30 June. That was despite a 15 per cent rise in premium income.