Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Beazley Buy 10-May-12 £70,500.00 Dennis Holt 50,000 @ 141.00p
http://www.edisoninvestmentresearch.co.uk/researchreports/beazley100512flash.pdf
Shore Capital kept its "buy" recommendation for Beazley (BEZ), impressed with the insurance firm's ability to return a pre-tax profit of 62.7 million dollars (39.7 million pounds) for the 2011 financial year. Additionally, the group saw a decline in net tangible asset value of just 1% to 115p per share, well ahead of the broker's target of 110p. However, Shore reduced its forecast for the 2012 dividend to 8.3p, representing 5% growth, which is at the bottom end of expectations. Beazley shares crept up by 0.6p to 147.7p.
Statement regarding Hardy Underwriting Bermuda Limited ("Hardy") Following the announcement by the board of Hardy on 1 December 2011 that it is to undertake a strategic review of its business, Beazley plc ("Beazley") announces that it has confirmed its interest in entering into exploratory discussions with Hardy regarding a possible offer to acquire the entire issued share capital of Hardy. This announcement does not represent a firm intention to make an offer and there can be no certainty that an offer by Beazley will be made.
http://www.investegate.co.uk/Article.aspx?id=201112210700123721U
Peel Hunt upgrades from hold to buy, target raised from 125p to 158p.
ZY MATES
Asia-Pacific disasters to cost Beazley $154m Date: Thursday 21 Apr 2011 LONDON (ShareCast) - Specialist insurer and reinsurer Beazley is crossing its fingers that there will be no more catastrophes this year after a series of disasters in the first quarter struck the Asia-Pacific region. "The first quarter of 2011 has seen catastrophe losses in Australia, New Zealand and Japan. As a result of Beazley's diversified portfolio we nevertheless anticipate achieving a combined ratio for 2011 in the mid ninety percent range, provided we experience no further significant catastrophe events during the remainder of 2011,” said Beazley's chief executive officer, Andrew Horton. The net cost of catastrophes in Australia, New Zealand and Japan is estimated to be $154m, the company said. The overall level of claims is developing in line with management expectations in other areas of the business. “We had good support from our reinsurers for the annual renewal of our catastrophe reinsurance programmes and on 1 April they were successfully renewed for our property and reinsurance businesses," Horton added. Premium rates on renewal business decreased by 1%. Gross premiums written in the first quarter eased 3% to $426m from $438m the year before. The first three months of 2011 saw premiums fall by 3%, when compared with the equivalent period of 2010. This has been driven by reductions across all of Beazley's divisions with the exception of speciality lines. Investments and cash increased by 11% to $3,969m at the end of March 2011 from $3,581m a year earlier. The annualised investment return was 0.9% compared to 0.6% in the first quarter of 2010
Andrew Horton, Chief Executive Officer, said: "The first quarter of 2011 has seen catastrophe losses in Australia, New Zealand and Japan. As a result of Beazley's diversified portfolio we nevertheless anticipate achieving a combined ratio for 2011 in the mid ninety percent range, provided we experience no further significant catastrophe events during the remainder of 2011. We had good support from our reinsurers for the annual renewal of our catastrophe reinsurance programmes and on 1 April they were successfully renewed for our property and reinsurance businesses."
Beazley plc Interim management statement for the 3 months ended 31 March 2011 Dublin, 21 April 2011 Overview · Resilient performance in difficult market conditions · Premiums reduced by 3% to $426m (2010 $438m) · Premium rates on renewal business decreased by 1% · The net cost of catastrophes in Australia, New Zealand and Japan is estimated to be $154m · Annualised investment yield of 0.9%
http://www.investegate.co.uk/Article.aspx?id=201104210700113141F
http://www.investegate.co.uk/Article.aspx?id=201002090700118566G
Agree completely mogo even at increased price. Good earnings projection and divi
Shares mag. says this is their best in non life insurance,for value at a discount to NTA 2010 of 24% and p/e an amazing 3.9 with 7.4% yield.They raised cash of £150m in early 2009.
BEZ with recent excellent results, now recovering from the Dip appears to be rising back to its 180p peak. I'm told this is well worth some research and is good value at present!