logo
Plus   Neg
Share
Email

Beazley Group Slips To Loss In H1, Premiums Climb; Stock Up

Risk insurance and reinsurance provider Beazley Group Plc (BEZ.L) reported Thursday that its first-half loss before tax was $13.8 million, compared to prior year's profit before tax of $166.4 million.

Loss per share was 1.7 pence, compared to profit of 20.4 pence last year.. In dollar cents, loss was 2.2 cents per share, compared to profit of 26.4 cents per share last year.

Net assets per share grew to 239.0 pence from 232.3 pence a year ago. Net investment income fell to $83.2 million from $170.3 million a year ago.

Gross premiums written increased 12 percent to $1.66 billion from $1.48 billion a year ago, with three of its seven divisions achieving double digit growth.

Net premiums written increased 8 percent to $1.32 billion from last year's $1.23 billion.

The company noted that claims arising from the pandemic resulted in combined ratio to 107 percent.

Going ahead for the year, the company expect to achieve a combined ratio of around 100 percent.

Further, the board has taken the decision not to declare a dividend for the first half of 2020.

In London, Beazley shares were trading at 444.60 pence, up 3.16 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration is hastening its efforts to make available more at-home testing options in response to the ongoing COVID-19 pandemic. All At-Home Covid-19 Tests being used now are authorized only for emergency use, and not cleared or fully approved by the FDA. The recent granting of EUA for the Quidel Corp.'s QuickVue At-Home COVID-19 Test is one example. Dollar Tree Inc. (DLTR) Wednesday reported a profit for the fourth-quarter that climbed 309 percent from last year, while Wendy's Co. (WEN) posted a profit that grew about 46.0 percent from the prior year. Dollar Tree has increased its share repurchase authorization by $2.0 billion. Wendy's expects profit for fiscal year 2021 to be below analysts' expectations. Medical devices company Boston Scientific Corp. (BSX) agreed Wednesday to acquire the global surgical business of Israel-based Lumenis LTD from an affiliate of Baring Private Equity Asia (BPEA) for an upfront cash payment of $1.07 billion, subject to closing adjustments. Lumenis is a privately-held...
Follow RTT