The Beazley board announces a second interim dividend of 8.2p per ordinary share, in line with their strategy of delivering 5-10% dividend growth. Together with the first interim dividend of 4.1p this takes the total dividends declared for 2019 to 12.3p per ordinary share (2018: first interim dividend of 3.9p plus a second interim dividend of 7.8p, totalling 11.7p).
Other financial highlights include:
Profit before tax of $267.7m (2018: $76.4m)
Return on equity of 15% (2018: 5%)
Gross premiums written increased by 15% to $3,003.9m (2018: $2,615.3m)
Combined ratio of 100% (2018: 98%)
Rate increase on renewal portfolio of 6% (2018: 3%)
Prior year reserve releases of $9.5m (2018: $115.0m)
Net investment income of $263.7m (2018: $41.1m)
