Beazley increases final dividend 5% and pays a special dividend of 8.4p

DividendMax Ltd.

Beazley increases final dividend 5% and pays a special dividend of 8.4p

Beazley delivers strong growth and record profits in 2012

Beazley plc results for year ended 31st December 2012

  • Profit before income tax of $251.2m (2011: $62.7m)
  • Return on equity of 19% (2011: 6%)
  • Gross written premiums increased by 11% to $1,895.9m (2011: $1,712.5m)
  • Combined ratio of 91% (2011: 99%)
  • Rate increase on renewal portfolio of 3% (2011: 1%)
  • Net investment income of $82.6m (2011: $39.3m)
  • Second interim dividend of 5.6p, taking total dividends for the year to 8.3p (2011: 7.9p) up 5% plus a special dividend of 8.4p
  • Offer to acquire all of the outstanding Tier 2 subordinated debt at par
  • Considering a second retail bond for up to £75m
  Year ended 31 December 2012 Year ended 31 December 2011 % movement
Gross written premiums ($m) 1,895.9 1,712.5 11%
Net written premiums ($m) 1,542.7 1,374.0 12%
Profit before income tax ($m) 251.2 62.7  
Earnings per share (pence) 26.7p 8.1p  
Net assets per share (pence) 148.4p 137.6p  
Net tangible assets per share (pence) 134.3p 120.8p  
Dividend per share (pence) 8.3p 7.9p  
Special dividend 8.4p -  

Andrew Horton, Chief Executive Officer, 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." 

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