Beazley plc announced strong growth for the year 2012.
Highlights of its recently released earnings report include the following:
鈥rofit before income tax of $251.2 million (compared to $62.7 million in 2011)
鈥eturn on equity of 19 percent (2011: 6 percent)
鈥ross written premiums increased by 11 percent to $1.8959 billion (2011: $1.7125 billion)
鈥ombined ratio of 91 percent (2011: 99 percent)
鈥ate increase on renewal portfolio of 3 percent (2011: 1 percent)
鈥et investment income of $82.6 million (2011: $39.3 million)
鈥econd interim dividend of 5.6 pence [8.85 cents], taking total dividends for the year to 8.3 pence [13.11 cents] (2011: 7.9 pence) up 5 percent plus a special dividend of 8.4 pence
鈥ffer to acquire all of the outstanding Tier 2 subordinated debt at par
鈥onsidering a second retail bond for up to 拢75 million [$118.5 million]
Chief Executive Officer 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 see further opportunities to grow profitably in the year ahead.”
“Today’s announcement of a special dividend, a debt buyback and plans for a further retail bond demonstrate our continued active approach to capital management. Our focus is on generating value for shareholders while maintaining our financial strength and flexibility.”
Source: Beazley plc
Topics Trends Profit Loss
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