Beazley PLC

Earnings Release • Jan 17, 2018

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 0641C

Beazley PLC

17 January 2018

Beazley plc

London, 17 January 2018

Post-close trading update

Beazley plc ("Beazley") publishes the following post-close trading update in respect of the year ended 31 December 2017 ahead of the 2017 full year results announcement on 8 February 2018.

The board anticipates that Beazley will report a combined ratio of 99% for the year ended 31 December 2017.  In addition, the group expects to report an investment return of 2.9% for the year on average invested assets of $4.8bn.  Finally, we note a reduction of approximately $5m in the value of our US deferred tax asset following the reduction in the US corporation tax rate from 35% to 21%.

As a result of the above, Beazley anticipates pre-tax profits for the year ended 31 December 2017 that will be ahead of current market expectations.

For further information, please contact:

Beazley plc

Martin Bride

+44 (0)20 7674 7291

Or

Chris Jones

+44 (0)20 7674 7075

Inside Information

This announcement is being disclosed in accordance with the Market Abuse Regulation (EU596/2014) and has been determined to contain inside information in line with the definition therein.

Note to editors:

Beazley plc (BEZ), is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, and Asia. Beazley manages six Lloyd's syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 million. All Lloyd's syndicates are rated A by A.M. Best. 

Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTBIGDBUDBBGIL