Saturday, February 9, 2013

Beazley special dividend pay if 2012 profit triples

Combined ratio falls eight points up to 91%

Lloyd's insurer Beazley made a 2012 net profit after tax of $ 214.6 m (£ 137 m), more than three times the $ 65.8 m it made in 2011.

The company's gross written premium (GWP) increased by 11% to $ 1 9 (2011: $ 1 billion) and the combined ratio improved by eight percentage points to 91% (2011: 99%).

The results were also boosted by an increase in investment income to $ 82.6 m (2011: $ 39.3 m).

Return on equity rose to 19% in 2012 from 6% in 2011.

Global (re) insurers 2012 results in General will be major improvements in the previous year because, despite Super storm Sandy, there were fewer natural disasters.

After his strong showing charged Beazley a interim dividend of 5.6 p per share and a special dividend of 8.4 p per share. Together with the previous interim dividend of 2.7 p were total dividends have been declared in 2012 16.7 p per share.

The company has also offered to buy back £ 150 m of the bonds the current holders, and revealed plans for a new retail sterling denominated bond under its medium-term note programme of £ 250 m euros.

Beazley chief executive Andrew Horton said: ' Beazley performed very strongly in 2012, delivering double digit premium growth and record profits. We continue to add new products and lines of business to our diversified portfolio and further opportunities to grow profitable in the coming year. "

He added: "today's announcement of a special dividend, a share buy-back programme debt and plans for a further retail bond demonstrate our continued active capital management approach. Our focus is on generating value for shareholders while maintaining our financial strength and flexibility. "

A further positive for the company is that the rates of its work renewal increased 3%, compared with an increase of 1% in 2011.

The company announced that its $ 90 m estimate of losses because of Super storm Sandy, who beat the us last October, remains unchanged.

Beazley 2012 results in $ m (compared with 2011)

GWP: 1, 895.9 (1, 712.5) net investment income: 82.6 (39.3) profit before tax: 251.2 (62.7) profit after tax: 214.6 (65.8) combined ratio (%): 91 (99) return on equity (%): 19 (6) the increase in the rate on renewal portfolio (%): 3 (1) 14 December 2012

18 October 2012

17 September 2012

20 July 2012

20 July 2012

12 July 2012

12 June 2012

10 may 2012

20 March 2012

7 February 2012



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Title Post: Beazley special dividend pay if 2012 profit triples
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Author: Mohammad Zulfi Satriawan

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