Disasters put Beazley in the red

The Lloyd's of London insurer Beazley sank to a $24m (£15m) loss after taking a $183m hit from natural disasters in the first half. Earthquakes in Japan and New Zealand, Australian floods and US tornadoes have inflicted claims in excess of $50bn on the industry.

Other insurers are expected to follow Beazley, the first listed Lloyd's insurer to post results, and report losses over the next fortnight.