Beazley raises £247m to expand after pandemic subsides

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By Aidan Gregory
19 May 2020

London insurance underwriter Beazley plc completed a £247m growth capital raising on Tuesday to position itself for expansion once the pandemic subsides, and to shore up its balance sheet.

In a regulatory filing, Beazley said that, following strong performance in the first quarter of 2020 and rising rates in its key markets, its board had opted to raise fresh equity to take advantages of opportunities that may arise in the near future.

Launched after the market ...

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