You are here

Prices & Quotes - UK Markets - Beazley (BEZ)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 313.60p
Change Today:
2.20p
Market Cap:
1,909.34m
Sector:
Insurance (non-life)

Beazley swings to first-half loss due to Covid claims

By Michele Maatouk

Date: Thursday 23 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Insurer Beazley said on Thursday that it swung to a loss in the first half due to coronavirus-related claims.
In the six months to the end of June, it swung to a pre-tax loss of $13.8m from a profit of $166.4m in the first half of last year, pointing to "high volumes of claims arising from Covid-19 impacted lines".

Beazley said its political, accident and contingency division was hit hardest due to the mass cancellation of events caused by Covid-19.

Net investment income fell to $83.2m from $170.3m and the company's combined ratio - which measures whether it is earning more revenues from its collected premiums relative to the claims it pays out - deteriorated to 107% from 100%. Still, the insurer said it expects to achieve a full-year combined ratio of around 100%.

Beazley said it had decided not to declare a dividend for the first half of 2020, having paid out 4.1p a share in the same period a year ago.

The company noted that total claims arising from the pandemic are predicted by some to be the largest insurance market losses of all time. Its share of this remains at $170m net of reinsurance, split between Beazley's political, accident and contingency book ($70m) and its marine, property and reinsurance books ($100m).

"We continue to be mindful of the potential claims on our liability business arising from the likely economic recession caused by Covid-19," it said. "While it is too early to provide guidance on the value of claims arising from business written pre-Covid-19, we have been actively adjusting our underwriting strategy on business written post the Covid-19 outbreak."

At 0845 BST, the shares were up 3.4% at 445.60p.

Broker Shore Capital said: "Beazley reported what we view as a resilient set of first half 2020 earnings, with losses lower than estimates, no movement in the initial loss estimate for Covid-19 of $170m net of reinsurance and the expectation of a full year COR of 100%, in line with 2019.

"We believe this will allow the company to fully benefit of the wide spread hardening insurance pricing the market is seeing post the Covid-19 insurance losses."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Beazley Market Data

Currency UK Pounds
Price 313.60p
Change Today 2.20p
52 Week High 628.00p
52 Week Low 309.40p
Volume 2,362,973
Shares Issued 608.85m
Market Cap 1,909.34m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Price Chg 6m
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
PEG
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
Operating Margin
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 4
Sell 1
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Beazley Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 27-Feb-20 01-Aug-19
Paid 30-Mar-20 29-Aug-19
Amount 8.20p 4.10p

Trades for 25-Sep-2020

Time Volume / Share Price
16:44 15,000 @ 313.32p
16:35 168,702 @ 313.48p
16:35 814,144 @ 313.60p
16:29 2 @ 312.00p
16:29 74 @ 312.00p

Beazley Key Personnel

CEO Andrew Horton
Chair David Roberts