The Beazley PLC Board are to be able to reinstate a dividend for the year ending 2021. Beazley will operate a progressive dividend policy going forwards, intending to grow dividend each year but recognising that some earnings fluctuations are to be expected. When determining the level of dividend, the Board considers the Group's capital position, future investment and growth opportunities and their ability to generate cash flows.
As such the Board have approved the declaration of an interim dividend of 12.9p for the full year of 2021.
Other financial highlights include:
Profit before tax of $369.2m (2020: Loss $50.4m)
Return on equity of 16% (2020: (3%))
Gross premiums written increased by 30% to $4,618.9m (2020: $3,563.8m)
Combined ratio of 93% (2020: 109%)
Rate increase on renewal portfolio of 24% (2020: 15%)
Prior year reserve releases of $209.8m (2020: $93.1m)
Net investment income of $116.4m (2020: $188.1m)