Beazley rallies on $300m return programme, guidance upgrade
Insurance firm Beazley updated guidance on its undiscounted combined ratio on Thursday and announced an additional capital return programme.
Beazley
663.00p
16:40 30/04/24
0.84%
5.50p
FTSE 100
8,144.13
17:04 30/04/24
n/a
n/a
FTSE 350
4,476.48
17:05 30/04/24
n/a
n/a
FTSE All-Share
4,430.25
17:14 30/04/24
n/a
n/a
Insurance (non-life)
3,666.13
17:05 30/04/24
0.14%
5.26
Beazley said its undiscounted combined ratio has improved from "low-80s to mid-70s for 2023" as a result of better-than-expected claims experience during the year.
The FTSE 100-listed group added that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, which was currently expected to be around $300.0m.
Beazley will announce its year-end results on 7 March.
As of 0920 GMT, Beazley shares had surged 9.19% to 635.50p.
Reporting by Iain Gilbert at Sharecast.com