Interim Report 2022

Fear of risk limits creativity and stifles progress. The services and products that we provide deliver peace of mind. But more than this, our purpose at Beazley is to inspire our clients and people with the confidence and freedom to explore, create and build - to enable people and businesses to thrive.

Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market.

We are passionate about bringing innovative and progressive thinking to the challenges of the insurance market. We have deep experience, and our approach is bold and non-conformist. We choose to be different and are not afraid to challenge the status quo in order to bring better and more enabling solutions to the market. We harness an enviable bench of expert solvers, intuitive tech-driven solutions and the hunger to go beyond expectations in everything we do. We expect our people to do the right thing in all situations - to act with integrity, respect and empathy.

1. About Beazley

1. Highlights
2. Key performance indicators
3. Interim results statement

1. Performance by division

1. Condensed consolidated statement of profit or loss
2. Condensed consolidated statement of comprehensive income

1. Condensed consolidated statement of changes in equity
2. Condensed consolidated statement of financial position
3. Condensed consolidated statement of cash flows
4. Notes to the condensed consolidated interim financial statements

1. Responsibility statement of the Directors in respect of the interim report
2. Independent review report to Beazley plc
3. Alternative performance measures

39 Company information

Beazley plc is the parent company of our specialist insurance business with operations in Europe, the US, Canada, Latin America and Asia. Beazley is a proud participant in the Lloyd's market, one of the largest and oldest insurance markets

in the world. Through the Lloyd's broker network and the market's trading licences, we are able to access a wide range of insurance and reinsurance business from around the world. Many of the lines of business we underwrite, such as Marine, Political Risks and Contingency, were pioneered at Lloyd's.

Beazley manages seven Lloyd's syndicates: syndicates

2623 and 623 underwrite a broad range of insurance and reinsurance business worldwide; syndicate 3623 focuses on personal accident, sport and facilities business along with providing reinsurance to Beazley Insurance Company, Inc. in the US; 3622 is a dedicated life syndicate; 6107, a special purpose syndicate, which writes reinsurance business; syndicate 5623, another special purpose syndicate reinsuring facilities business written by syndicate 3623; and syndicate 4321, a Lloyd's

syndicate in a box, which focuses on writing business on a consortium basis led by syndicate 2623/623 based on ESG scores of insureds.

We also underwrite business directly in the US admitted market through Beazley Insurance Company, Inc. (BICI), an admitted carrier licensed to write in all 50 states, and Beazley America Insurance Company, Inc. (BAIC), an admitted carrier licensed to write in 47 states.

Our European insurance company, Beazley Insurance dac (BIdac) underwrites business throughout the European Economic Area, the United Kingdom and Switzerland. BIdac is licensed to write direct business through its branches in the UK, France, Germany, Spain and Switzerland. BIdac also acts as an internal reinsurer for a portion of the Group syndicates' business.

Further information about us is available at: www.beazley.com

Financial

Earnings per share (c)

60

50

40

30

50.9

1. 23.0

• Tangible■ Intangible

Combined ratio (%)

120

60

We continue to execute in line with our vision to grow across all key business lines and in the first half we made significant strides forward, delivering increased gross premiums written of $2,554.9m despite further shocks in the form of war in Europe and sharply rising inflation. This growth has been supported by a buoyant rating environment, with premium rate change of 18% seen on average across the business.

During the last six months, we have streamlined our underwriting structure, launched Lloyd's first dedicated ESG syndicate and have realigned our digital business to be managed under

one segment.

As a business diversified across consolidated products, platforms and geographies our aim is to deploy our expertise and add value and innovate, seeking out opportunities in markets where growth rates are high. This focus has led to Beazley proudly holding a track record of high underwriting performance which continued in the first half of 2022, with us delivering our best half year combined ratio in seven years.

Geopolitical turbulence

When we announced our full year results on 10 February, a full-scale war in Europe still seemed unlikely. As events have moved rapidly our role as a leading sustainable specialty insurer has been, and continues to be, to provide meaningful support to our clients as we all face a significant change in the geopolitical status quo. Tragically, the impacts of the war in Ukraine go far beyond the financial, and we have all witnessed the devastating human toll being inflicted and our thoughts are with those impacted. We have had to date a small number of claims notified.