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Beazley profit falls 53% in H1 2026 as market softens
In the first half of 2026, Beazley’s undiscounted combined ratio rose to 93.3% from 84.9% in the prior year period.
Beazley reported profit before tax of $237.7 million in the first half of 2026, down 53% from $502.5 million a year earlier, as the specialty insurer said it faced rapidly softening market conditions and a return to a more active large-loss environment. The company said disciplined underwriting and proactive portfolio management helped it remain resilient while keeping a focus on long-term profitability over volume growth. Beazley’s insurance written premiums fell 4.3% year on year to $3.05 billion, and net insurance written premiums declined 6.2% to $2.44 billion.
Beazley’s undiscounted combined ratio increased to 93.3% from 84.9%. It also reported that its Cyber Risks segment delivered written premiums of $524.9 million, down 15.4%, with an undiscounted combined ratio of 91.7%.
In other segments, Property Risks written premiums declined 5.9% to $965.3 million, though the segment’s undiscounted combined ratio was 79.6%, and Specialty Risks premiums fell 1.5% to $968.8 million with a 98.5% combined ratio. Reinsurance News also noted Marine, Accident and Political Risks premiums rose 6.1% to $591.6 million, but performance was hurt by elevated losses, leaving that segment with a combined ratio of 103%.