Beazley’s premiums grow 22%, driven by cyber insurance business

U.K.-based specialty insurer Beazley PLC’s gross written premiums increased 22% year-on-year to nearly $4 billion in the first nine months of the year, Commercial Risk reported. The insurer recorded its largest growth in its cyber business, with a 66% increase in premiums to $838 million. Insurance rates have finally started to moderate after a period of steep hikes while directors and officers liability insurance market remains unexpectedly competitive.