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
770.00p
09:05 05/11/24
1.18%
9.00p
FTSE 100
8,205.63
09:05 05/11/24
n/a
n/a
FTSE 350
4,522.99
09:05 05/11/24
n/a
n/a
FTSE All-Share
4,479.90
09:05 05/11/24
n/a
n/a
Insurance (non-life)
3,581.44
09:04 05/11/24
0.64%
22.86
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