Beazley (BEZ)

Sector:

Insurance

Index:

FTSE 250

382.30p
   
  • Change Today:
    -7.60p
  • 52 Week High: 421.60
  • 52 Week Low: 293.40
  • Currency: UK Pounds
  • Shares Issued: 609.23m
  • Volume: 172,172
  • Market Cap: £2,329.10m
  • RiskGrade: 236

Beazley swings back to profit in first half

By Josh White

Date: Friday 23 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Beazley reported a first-half profit before tax of $167.3m (£121.81m) on Friday, swinging from a loss before tax of $13.8m in the first half of the prior year.

The FTSE 250 insurer said its annualised return on equity was 15% as at 30 June, compared to a negative 1% return a year ago, while cross premiums written grew by 22% to $2.04bn.

Its combined ratio was 94%, compared to 107% 12 months prior, as it reported a rate increase on its renewal portfolio of 20%, up from an increase of 11%.

Prior year reserve releases totalled $95.7m in the period, up from $58.6m year-on-year, while net investment income remained relatively stable at $83.6m, compared to $83.2m in the first half of 2020.

The board said it would pay no interim dividend, in line with the prior period.

"Beazley's gross premiums written increased by 22% to $2.04bn with all divisions achieving rate rises in the first six months of 2021," said chief executive officer Adrian Cox.

"Reserve releases across all divisions supported a half year combined ratio of 94% and the investment return achieved was also strong at 1.2% year to date.

"I am excited about the growth opportunities ahead."

Cox said the company's capital base remained "strong", adding that it was "well-placed" to support its growth plan.

"The board remains committed to a dividend payment, and will consider this at year-end after taking into account the 2021 results as a whole."

At 0839 BST, shares in Beazley were up 4.16% at 376p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Beazley Market Data

Currency UK Pounds
Share Price 382.30p
Change Today -7.60p
% Change -1.95 %
52 Week High 421.60
52 Week Low 293.40
Volume 172,172
Shares Issued 609.23m
Market Cap £2,329.10m
RiskGrade 236

Beazley Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.51% above the market average46.51% above the market average46.51% above the market average46.51% above the market average46.51% above the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average
Price Trend
16.63% below the market average16.63% below the market average16.63% below the market average16.63% below the market average16.63% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Income
31.55% above the market average31.55% above the market average31.55% above the market average31.55% above the market average31.55% above the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Growth
84.68% above the market average84.68% above the market average84.68% above the market average84.68% above the market average84.68% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average

What The Brokers Say

Strong Buy 13
Buy 1
Neutral 2
Sell 0
Strong Sell 1
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Beazley Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 27-Feb-20 01-Aug-19
Paid 30-Mar-20 29-Aug-19
Amount 8.20p 4.10p

Trades for 28-Sep-2021

Time Volume / Share Price
11:40 2 @ 382.40p
11:36 477 @ 382.30p
11:36 239 @ 382.30p
11:36 78 @ 382.30p
11:35 293 @ 382.20p

Beazley Key Personnel

CEO Adrian Cox

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