The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Beazley changes reporting currency

This article appears courtesy of Reactions

Lloyd’s insurer Beazley is to change its reporting currency to US dollars from 2010 onwards.

The move is being done to reduce the volatility of future reported earnings because of foreign exchange, particularly foreign exchange on non-monetary assets which has greatlydistorted earnings for the industry in the past two years.

The decision follows Beazley's announcement in January 2010 that it will maintain underwriting capital in the currencies of written premiums, following its expansion into US through the acquisition of First State in early 2009.

Beazley joins Catlin and Lancashire as a dollar reporting company. Most companies in the market still report in sterling, including Amlin, Brit, Chaucer, Hardy, Hiscox, and Novae.


Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree