6th Dec 2018 08:37
LONDON (Alliance News) - Beazley PLC said on Thursday it expects a USD40 million cost of claims arising from the 2018 California wildfire.
The FTSE 250-listed specialist insurance business also said it expects to make a 0.5% investment return for the 11 months to the end of November, amid volatile investment markets.
In addition, Beazley said it has appointed Christine LaSala as senior independent director with effect on March 21 next year, when the company holds its annual general meeting.
She will be replacing George Blunden, who will step down on the same date after eight years in the company since 2010.
"Christine LaSala has a long and distinguished career in the insurance industry and has already made a significant contribution to the Beazley board. We are delighted she has agreed to assume the role of senior independent director," said Chairman David Roberts.
Beazley shares were down 1.0% early Thursday at 537.00 pence.
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