BEAZLEY SYNDICATE 2636 BOOKS $109M LOSS

Beazley’s syndicate 2636 booked a $109m loss for 2020, down from a profit of $165m in the previous year, as Covid-19 losses weighed heavily on the contingency book. The syndicate suffered losses from paying out for cancelled events because of the closure of the hospitality and events industries. The Beazley group as a whole, including its non-Lloyd’s businesses, has previously estimated its losses from the Covid-19 pandemic at $340m.