Beazley shares boosted despite losses

The price of shares in FTSE 250 specialist insurer Beazley (LON:BEZ) has shot upwards by 16.94% to 375.60p (as of 14:30 GMT) despite booking a loss before tax of $50.4 million for the year ended 31st December. Gross written premiums grew by 19% as rates rose across most divisions.

CEO Andrew Horton commented: “I am very positive about the year ahead. We have the capital strength to support our growth plans and look forward to a continued favourable rate environment and expansion of our specialist products globally. I am confident we can return to paying dividends during the course of 2021“.