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Beazley's gross written premiums buoyed by specialty lines

Beazley has filed an application with the Central Bank to get approval for its Irish reinsurance business to become a European company
Beazley has filed an application with the Central Bank to get approval for its Irish reinsurance business to become a European company

Lloyd's of London insurer Beazley reported a 2% rise in gross written premiums in the first nine months of the year, buoyed by growth in its specialty lines business. 

The underwriter, which provides marine, casualty and property insurance and reinsurance, said gross written premiums rose to $1.67 billion in the nine months ended September 30, from $1.64 billion a year earlier. 

Beazley said it had filed an application this month with Ireland's Central Bank to get approval for its Irish reinsurance business to become a European insurance company. 

If approved, this will allow the company to operate throughout the bloc, even if Lloyd's loses access. 

The insurer also said it had moved to larger offices in Atlanta and Paris.

Beazley also said it did not expect a very substantial insured loss from Hurricane Matthew.