It’s been a busy year and Beazley has published their latest set of financial results;
Beazley plc results for period ended 31 December 2024
• Profit before tax increased to $1,423.5m (2023: $1,254.4m)
• Insurance written premiums increased to $6,164.1m (2023: $5,601.4m)
• Net insurance written premiums increased to $5,152.3m (2023: $4,696.2m)
• Undiscounted combined ratio of 79% (2023: 74%)
• Discounted combined ratio of 75% (2023: 71%)
• Return on equity of 27% (2023: 30%)
• Initial estimate of Californian Wildfires in the region of $80m
• Mid-single digit gross IWP growth guidance for FY 2025
• Mid-80s undiscounted combined ratio guidance for FY 2025
• $500m share buyback programme to be launched
• Ordinary dividend rebased by 76% to 25p.
| Year ended
31 December 2024 |
Year ended
31 December 2023 |
%
movement |
|
| Insurance Written Premiums ($m) | 6,164.1 | 5,601.4 | 10% |
| Net Insurance Written Premiums ($m) | 5,152.3 | 4,696.2 | 10% |
| Insurance Service Result ($m) | 1,236.0 | 1,251.0 | (1)% |
| Profit before tax ($m) | 1,423.5 | 1,254.4 | 13% |
| Earnings per share (pence) | 137.0 | 124.8 | 10% |
| Net assets per share (pence) | 570.5 | 468.6 | 22% |
| Net tangible assets per share (pence) | 545.9 | 448.7 | 22% |
Adrian Cox, Chief Executive Officer, said:
“Our record profit of $1.4bn, along with a 79% undiscounted combined ratio and strong premium growth is a testament to the strength of our expertise. I am delighted with what our company has achieved amidst a challenging claims environment, including an active hurricane season.
This robust performance enables a share buyback of $500m as well as an ordinary dividend rebase to 25p, which is a 76% increase. We remain well capitalised to take advantage of growth opportunities in an evolving market and sustain our strong financial performance over the long term.”
Be the first to comment