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The fair weather investor
Published: Jul 28 2017

Results being rushed out before investors go on holiday in August? No, it just feels like it with three in three days, followed by two trading updates, the latter two arriving while this note was being written.Beazley started off the Lloyds results season with another good performance, but with a warning about a continued decline in premium rates. It must be noted that the increase in profits is wholly due to a better investment performance and that Beazley’s underwriting profits were about 4% lower – still a remarkably good performance since a 2% fall in premiums should, ceteris paribus,

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