UK speciality insurer Beazley reports 53% drop in first-half profit

Aug 4 (Reuters) - British speciality insurer Beazley reported a 53% fall in first-half pre-tax profit on Wednesday, due to larger claims and softer insurance market conditions.

The insurer, which agreed to an $11 billion takeover bid from Zurich Insurance in March, posted pre-tax profit of $237.7 million for the first-half ended June 30, compared with $502.5 million a year earlier.

(Reporting by Atharva Singh in Bengaluru)