RE: Time for an update!!6 Nov 2020 09:31
In the FTSE 100, insurers were among the better performers early Friday. Aviva rose 3.9%, M&G climbed and Prudential were both 1.9% higher. The trio benefited from a positive read across from mid-cap peer Beazley, which itself rose 1.2%.
Beazley posted a rise in gross premiums written after its third quarter of trading. In the nine months ended September 30, gross written premiums surged 16% year-on-year to USD2.53 billion. Beazley said it has seen growth in almost all of its divisions.
Looking ahead, Beazley said Covid-19 related claims may climb by USD50 million should there not be a return to "some form of normality" in the second half of 2021. Back in September, it said its claims estimate for Covid-19 was USD340 million net of reinsurance, which it kept in place on Thursday. Beazley said it expects third-quarter catastrophe claims to be USD80 million net of reinsurance.