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Tested 300p today!
Looks like we were both right in that it was due to rise. Always nice to be vindicated by the market. As ever, GLA and DYOR
Another 3m+ shares added by Invesco taking their stake over 20%
I'm quite bullish on the management and specialist teams of BEZ and was further heartened by the last report. I intend to hold for the long-term, and expect to see further capital and dividend growth. I note that Neil Woodford has chosen BEZ among the first holdings for his new Equity Income Fund.
Truly surprised at the dive this has taken post-divi. Certainly dropped more than it should have (IMNSHO) For me the results were bang on, and I'm going to keep holding for a while yet. As ever, GLA and DYOR
Half year results show investment performance has markedly improved and a new investment manager due to come in. More importantly, the underwriting business in the US is going from strength to strength, and the dividends continue to grow.
Beazley: Berenberg shifts target price from 271p to 278p and upgrades from hold to buy.
Let us see what the IMS says about the investment performance which has been quite poor over the last couple of years and not a patch on the underwriting results that BEZ has delivered over the past years. That said, it is one of my favourite shares and I'm encouraged to see how the company its deepening the strength of its staff-team and exploring new business.
Q1 IMS statement to be released on the 8th May
Forgot to add. Watch it dip a bit for the next few days, then rise just before xd date. So if you are buying give it a few days but don't leave it too late. The divi (inc sp divi) is 8 per cent of the sp of around £ 2.75. The long term outlook is also looking very good for £3 in my opinion.. C.
This goes Xd on 26 Feb and is paying a 22p dividend (inc sp divi). A great return that the Banks cannot match. Many Brokers are recommending it. A buy from £3 to £3.30. Sit back enjoy the dividend and the increase in sp IMO. The Rolls Royce of Insurance...... C
Anyone have any ideas what prompted todays SP rise?
Beazley: Nomura raises target price from 212p to 234p and maintains its buy recommendation.
Andrew Horton, Chief Executive Officer of Beazley, 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." He added: "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."
FTSE 250-listed specialist insurance provider Beazley has reported a 300.6 per cent rise in pre-tax profit for the year ending December 31st, according to an interim management statement issued by the company on Thursday. The company, which insures athletes, crews of ships and aircraft, reported that profit before tax had risen to $251.2m compared to $62.7m in the previous year. Return on equity rose 13 percentage points to 19% and gross written premiums jumped 11% to $1,895.9m. Net written premiums climbed 12% to $1,542.7m and the company announced a second interim dividend of 5.6p, taking total dividends for the year to 8.3p, up 5.0%, plus a special dividend of 8.4p. Beazley also stated that it was considering a second retail bond for up to £75m.
Beazley: Berenberg starts with a target price of 217p and a buy recommendation.
Specialist insurer Beazley said it was not yet possible to quantify the impact Hurricane Sandy would have on business. The firm said its current focus was on ensuring it supported customers affected by the 'superstorm' that hit the United States. It noted that in all other areas the claims environment during 2012 had been relatively benign with lower than average levels of claim notifications. "Assuming any claims Beazley incurs from Sandy are covered by catastrophe margins, we anticipate achieving a combined ratio for the year around 90%," the company said. Beazley reported gross premiums written for the nine months ended 30th September were up by 9% when compared with the equivalent period of 2011. It noted significant increases in the firm's marine division, driven by additional premium in its energy business Growth in the company's specialty lines division was driven by new product lines and positive rate increases, it added.
Top Director Sells Beazley (BEZ) Director name: Mr Adrian Cox Amount sold: 13,071 @ 165.20p Value: £21,593
Adrian Cox, an Executive Director at Beazley, the FTSE 250 specialist insurer, traded in a handful of shares in the company on August 8th, it was announced today. Cox, 39, who joined the board in December 2010 and heads up the specialty lines division, sold 13,071 shares at 165.20p each, reducing his stake to 422,618, equal to 0.08% of the issued share capital. The announcement came on the same day the company revealed it is to buy back some of its fixed/floating rate notes due 2026 by means of a modified Dutch auction. There are £150m worth of notes in issue, and Beazley intends to buy back up to £25m of them. The minimum purchase price will be 92% of redemption value. Beazley will also pay an amount equal to accrued and unpaid interest on the relevant notes accepted for purchase. Although the tender offer uses the Dutch auction principle of sellers undercutting each other, there will only be one selling price, which means all sellers whose offers are accepted will get the same price; the trick will be bidding low enough to beat the cut off point. Bids may be scaled back on a pro rata basis should demand be high.
Beazley Sell 09-Oct-12 £443,742.51 Andrew Horton 261,025 @ 170.00p
Beazley Sell 24-Sep-12 £413,050.00 Jonathan Gray 250,000 @ 165.22p
INSURER BEAZLEY SWINGS BACK TO PROFIT AS CLAIMS ABATE Lloyd's of London LOL.UL insurer Beazley (BEZG.L) swung to a first-half profit as claims fell back to more normal levels following a sharp catastrophe-induced increase a year ago. Beazley said on Friday it made a pretax profit of $113 million (71.9 million pounds) in the six months to June, compared with a loss of $24.2 million in the 2011 period and forecasts for $100-$110 million. The improvement partly reflected a 20 percent drop in net claims relative to the first half of 2011, when Beazley paid out $477 million to customers as earthquakes in Japan and New Zealand inflicted big losses on insurers worldwide. Beazley also benefited from an average 3 percent rise in prices across its business, reflecting a steady turnaround in global insurance rates after four years of declines. Insurance prices typically rise in the wake of major payouts as financially weaker players retrench, leaving those still in the market to charge more. Beazley chief executive Andrew Horton said he expected prices to keep rising at the same pace in the second half. "If there is an economic downturn it may put more pressure on those rate increases. We have an uncertain economic outlook in the next six months to one year," he told Reuters. Horton also said Beazley, which last year expressed interest in buying rival Hardy Underwriting before it was snapped up by U.S. insurer CNA Financial, was still on the lookout for acquisitions, although no deals were imminent. "There is nothing in mind at this point in time," he said. Beazley will pay an interim dividend of 2.7 pence, up 8 percent. Source: http://uk.reuters.com/article/2012/07/20/uk-beazley-earnings-idUKBRE86J09620120720 P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=256596 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
Peel Hunt thinks Beazley's gross written premiums will be around 8% higher year-on-year at $991m, and predicts the combined ratio - which measures how well the insurer has taken on risk - will improve to 91% from 108% in the first half of last year. The broker's forecast is for earnings per share of 10.3p versus an interim loss per share last year of 1.7p. "Of main interest will be the rating outlook, particularly for Beazley's greater proportion of casualty business as we hear that rate increases seem to be lessening as we await the peak hurricane season," Peel Hunt said.
Beazley Buy 10-May-12 £70,500.00 Dennis Holt 50,000 @ 141.00p