Notice of Results and Performance Update

Beazley PLC

22 February 2024

 

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

[phone]

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

 

END