This announcement contains inside
information
Notice of Results and Performance Update
Beazley updates guidance on undiscounted combined ratio and
announces additional capital return
London, 22 February 2024
Beazley plc announces an
update to guidance on undiscounted combined ratio, which has
improved from low-80s to mid-70s for 2023. This is as a
result of better than expected claims experience during the
year.
As well as an ordinary dividend,
shareholders will receive an additional capital return in respect
of 2023. This is expected to be around $300m.
The company will announce its year
end results on 7 March when the quantum and method of additional
return will be confirmed.
ENDS
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation EU 596/2016 as it forms part of UK law by virtue of the
UK law by virtue of the European Union (Withdrawal) Act 2018. The
person responsible for releasing this announcement is Christine
Oldridge (Company Secretary).
For further information:
Analysts and Investors:
Sarah Booth
+44 (0) 20 7674 7582
Media:
Sam Whiteley
T+44 (0) 20 7674 7484
Year end results webcast on 7 March
at 10am. Register here to join:
Beazley
- Year End Results 2023 (brrmedia.co.uk))
Note to editors:
Beazley plc (BEZ.L), is the parent
company of specialist insurance businesses with operations in
Europe, North America, Latin America and Asia. Beazley manages
seven Lloyd's syndicates and, in 2022, underwrote gross premiums
worldwide of $5,268.7million. All Lloyd's syndicates are rated A by
A.M. Best.
Beazley's underwriters in the United
States focus on writing a range of specialist insurance products.
In the admitted market, coverage is provided by Beazley Insurance
Company, Inc., an A.M. Best A rated carrier licensed in all 50
states. In the surplus lines market, coverage is provided by the
Beazley syndicates at Lloyd's.
Beazley's European insurance
company, Beazley Insurance dac, is regulated by the Central Bank of
Ireland and is A rated by A.M. Best and A+ by Fitch.
Beazley is a market leader in many
of its chosen lines, which include Professional Indemnity, Cyber
Liability, Property, Marine, Reinsurance, Accident and Life, and
Political Risks and Contingency Business.
For more information please go
to: beazley.com
This announcement contains inside
information