Beazley Share Chat (BEZ)

I'm obviously missing something here.

The company had been buying back shares forever.They release amazing earnings figures and yet it's not moved in the grand scheme of things.

Let us see if and when the sp gets to +£8....

No really, thanks for the input, Its been invaluable.

I will come post again ;).

Most articles of late mention how cheap Beazley are, how their p/e ratio is considerably lower than their piers.

There has also been a great deal made of how there's a record amount of take-overs about to happen/happening on the LSE.

With these two factors alone, do we not think we are in a prime position for a takeover?

Clear signs that continue to innovate in a thoughtful way and build strong business relationships. Looking forward to the European sides of the business growing, even if lots of focus on US and cybersecurity stuff.

More to come!

Sold out for now. But what a move. Well done to all.

IMHO Excellent Results.

Only thing extra I would ask is how Board intend to get SP to reflect these opportunities. Obviously, buy back programme and taking 12% of shares out cancelling them will further demonstrate the case. PE Ratio now already falling to 4 which is far too low and shows how undervalued these are!

Adrian Cox, CEO of Beazley, said:

"I am pleased to report a record first half profit of $728.9m. Expertise in underwriting and active risk selection are key drivers of this strong result, even as the rating environment is moderating. Property grew 25% in the first half, demonstrating the success of our strategy to grow in this increasingly specialist class, focusing on the US E&S market. We continue to innovate in cyber, launching one of the market's most comprehensive, integrated cyber security and insurance offerings with Full Spectrum Cyber and Beazley Security. When faced with the world's largest ever IT outage, Beazley's approach to underwriting cyber risk was tested and proved to be highly resilient. We see opportunities in the remainder of the year and are confident in delivering on our high single digit growth guidance. We are also pleased to confirm that we have improved our undiscounted combined ratio guidance for the full year to around 80%."

Beazley PLC Beazley plc results for period ended 30 June 2024

Source: RNS Regulatory News

RNS Number : 6353Z

Beazley PLC

08 August 2024

Press Release

Beazley delivers record first half year profit of $728.9m

Beazley plc results for period ended 30 June 2024

• Profit before tax increased to $728.9m (2023HY: $366.4m)

• Insurance written premiums increased to $3,123.3m (2023HY: $2,921.1m)

• Undiscounted combined ratio of 81% (2023HY: 88%)

• Discounted combined ratio of 77% (2023HY: 84%)

• Return on equity (annualised) of 28% (2023HY: 18%)

• Share buyback of up to $325m announced in March 2024 on track to complete by end of the year

• FY undiscounted COR guidance of around 80%

• FY premium growth of high single digits reiterated

Gg

According to Tipranks, the average 12-month price target for Beazley (BEZ) is 887.14p, with a high of 975.00p and a low of 770.00p, based on 7 Wall Street analysts' price targets from the last three months. This average price target represents a 38.83% change from the last price of 639.00p. Tipranks also gives Beazley PLC a consensus rating of "Strong Buy" based on 7 buy ratings, 0 hold ratings, and 0 sell ratings.

Share buyback in March 325m gbp will remove 12% of shares.

Beazley H1 results will be issued tomorrow. Be interesting to see whether revenues and profits continued growth continues.

Revenue - 3,003m to 5,442m over last 5 years (nearly doubled)

Profits - 234m to 1,026m over last 5 years (quarupled)

Shareprice sideways 600p

PE Ratio of 5

Share buyback in progress

Obviously,although im in profit, this thing has pretty much gone sideways for 5 years.

Time to move stock exchanges (as patriotic as I am), there's no growth in the UK.

Gone back up 35p in just 100mins. Could it finish blue?

Depends what your entry was at

yup, just puts a cherry ontop of what pile of **** this share has been.

Not good news for BEZ given their large exposure to cyber liability.

Depending on the circumstances and how long it lasts, there could be some significant claims, especially for business interruption.

Possible could hit Texas but that would rely on a number of factors too complicated to explain here, dyor

The hurricane is the earliest category 5, will be near Jamaica next. Travelling at 20mph with windspeed up to 160mph.

They believe it will be a busy hurricane season.

The hurricane is further south of Florida, unclear if it will hit Florida, but it has winds of 160mph according to CNBC.

* knowledge

JDF7 exactly my point, I don't know.

I do know this has dropped over 8% on zero public know.

If Guttersnipe is right then I sta nd corrected, which means this is not the share to be in during hurricane season.

ATH hit!

Closing above the previous ATH of 700.50p would be a good sign.

This is about ready for lift off looking at the Technicals.

Hoping that we can get over 700p and stay over it with this little burst over the last few days.

BEZ selling out to QBE? Maybe the reporter has undeclared interests! :-) Can't see it myself, unless it was at some stratospheric premium that BEZ management simply couldn't advise against. I'll not be holding my breath for an incoming offer.

Someone sent a screen shot.

The company they mentioned was QBE. The reporter was the one suggesting Beazley to be fair (no reference from anyone stating it within QBE).

Do you have a link to that? Which company?

There are rumours in the Australian press that an Australian company is about to make an offer for Beazley…

It seems the brokers are way off on this one.Just a boring sideways pivot at 666p.

£10 target? RBC is having a laugh unless they know of some incoming bid. Can't see it within the next 18 months or so.

This thing pivots around 666 ALOT.

The names Beazley and Belzebub are not a million miles away from each other.

What is going on here lol!!

Jokes.

Nice little broker forecast upgrade to 1000p there.

:)

Expecting a gradual increase over the next couple of months.

Not sensational but solid (as you would want from a steady insurance business).

Maybe not, but if not, what is the point of their forecasts?

If BEZ touches Jeffries target of 975p I'll be flabbergasted but delighted. Even if it "just" gets to £8, I'll be thankful. We shouldn't build our investment decisions around brokers and this value estimation models though, no?

Nice rise today on the back of the broker upgrade (Jefferies raises Beazley price target to 975 (915) pence - 'buy').

Sometimes it takes the market a while to figure things out. There are a lot of good opportunities out there at the moment which are attracting attention and money.

But that is the whole premise of investing; you believe that the market has undervalued the share so you have bought it and will (hopefully) sell it for a profit. Patience my friend, people will wake up and share will re-rate if the fundamentals remain the same. BEZ are coining it in at the moment and that won't go unnoticed for long.

What is with this stock.

ExDiv date been and gone, company buying millions of pounds worth of shares and disposing of them and yet the SP goes down?

I've no idea Nick, but that would fall inline with timing atleast.

I though we would be over 700 by now if I'm honest.

No obvious reason in the public domain. I wonder if they have any exposure to the Baltimore ship that hit the bridge?

What is the reason for the 3% drop today?

Let us see if this crosses over into £7 territory..

All time high now hit.

Ex-divi on Thurs will no doubt knock a couple of % off but I still think there is further for this to rise, especially with the buyback ongoing.

True enough JDF7, a little rise today.

Jamesss, sometimes the market just moves slowly in its repricing....

Why in the world has this not moved?

Buy back anouced and Dividend coupled with a strong set of results?

Superb set of results. I would have liked a slightly higher divi but pleased with the buyback announced.

Dare I say it, this is a real British stock market success story; BEZ is a hugely profitable business, a market leader, a global business and is growing rapidly. What's not to like?

I brought Beazley as a solid play in a world of strong insurance rates.

Today showed just how strong with a massive underwriting profit.

I got my timing right and already in a profit.

Will probably hold for long term.

Thanks for the response. I had thought that was the most likely reason but I was not absolutely certain.

I have also held shares for years and agree with your opinion.

From RNS

The company will announce its year end results on 7 March when the quantum and method of additional return will be confirmed.

This is a long term hold for me. Held it for years and is always a solid performer. Perfect for an ISA IMHO.

Am I missing something obvious or should the 2024 Dividend have been declared on 1st of March?

BEZ and its BOD are a good outfit. The sp may have space to run up further and the focus on returning excess capital make it worthy of consideration as a buy

Superb trading update today and a great rise. Looking forward to the results on the 7th and how the capital will be returned to us shareholders. I'm expecting a combination of a rise in the divi and a share buyback.

Still more to come from this share IMO, so I'm happy to hold for the time being.

I bought in mid-January £5.08 as SP looked very low . just sold some for 564 on 20th & sold rest today. One of my rare successes lol GLTA

Nick, thanks. Understand better now. I've always thought BEZ are a very professional yet proactive company. I particularly appreciate how measured and detailed they are in their RNSs, focused on performance and not on hype or promises.

It is additional reinsurance to protect Beazley in the event of a very large (catastrophic) cyber event e.g. a successful cyber attack on a cloud services provider carried out by a rogue state.

Cat bonds are common in property reinsurance but this is one of the first for cyber reinsurance.

Currently, Beazley and other cyber insurers will often apply a sub-limit on cyber policies for catastrophic losses such as these. Potentially, this may allow Beazley to provide more coverage or transfer the risk.

It's just a further demonstration of Beazleys expertise and capabilities in cyber insurance which is the fastest growing class of insurance, and the biggest class that Beazley writes in terms of GWP.

Troajan, what does that mean? BEZ buying into them as part of its investment holdings? Or were they talking about some form of cyber risk insurance bond product that BEZ are participating in designing and help alleviate potential direct underwriting losses? Excuse my ignorance

On the menu for bez.....bloomberg news tv says

Underwriting discipline should result in lower claims. I’m really looking forward to BEZ final year results and the inevitable re-rate of this one.

Beazley plc posted interims for the HY ended 30th June yesterday. Insurance written premiums increased to $2,921.1m (2022HY: $2,574.3m), profit before tax increased to $366.4m (2022HY: $364.9m), the Group’s undiscounted combined ratio pushed up to 88% (2022HY: 74%), in line with previous guidance. The investment team achieved a strong investment result of $143.9m (30 June 2022: loss of $193.0m) or 3.0% annualised (30 June 2022: loss of 5.0%). Valuation is very attractive with forward PE ratio at 5.5x. Share price lacks near term momentum, other than that BEZ is a solid, growing and profitable insurance company which has made its way into the FTSE100. BUY....

...from WealthOracle

wealthoracle.co.uk/detailed-result-full/BEZ/788

Absolutely agree the market is simply toxic right now and valuation make no sense unless lse plan on taking it all down to the abyss. Drop this morning on top of undervalued already price just toxic

Market certainly got this badly wrong if the H&L summary regarding the combined ratio is an indicator of why the share price fell so dramatically

The summaru reads as follows "(Sharecast News) - Insurance group Beazley said it remains on track to hit guidance after delivering record profits in the first half, though its combined ratio jumped.

Pre-tax profit totalled $366.4m in the six months to 30 June, up only slightly from $364.9m a year earlier, despite insurance written premiums rising 13% to $2.92bn.

Beazley said property insurance written premiums jumped 65% while cyber premiums rose 14%.

However, the company saw a sharp rise in insurance service expenses to $2.08bn fro $1.74bn a year earlier.

The combined ratio, a key measure of profitability calculated by dividing incurred losses and expenses by earned premiums (and therefore the lower the better), increased to 84% from 71%.

"We have confidence in the ability of our diversified platform, product and geographic strategy to continue to deliver and look forward to achieving mid-teens growth," said chief executive Adrian Cox.

He reiterated the group's guidance of a full-year combined ratio guidance in the "low eighties".

The eoy 2022 Results RNS 2nd March 2023 stated

"Taking the above into account, we expect to deliver a high-80s combined ratio for 2023 assuming average claims experience. Although significant geopolitical headwinds remain, I believe we are in an excellent position to sustainably grow our company and I am looking forward to all we will achieve together in 2023."

So H1 2023 interims and guidance are unchanged and the already depressed share price warranted an uplift rather than the initial 9% fall first thing.

07th Sept

When are they due? Cannot see RNS

Berenberg raises Beazley price target to 850 (825) pence - 'buy'

This reduction in share price is a result of Beazley buying some products from Vesttoo. Beazley haven’t done anything wrong and will correct the issue very quickly. A reduction in share price is ridiculous. Insurance and reinsurance premiums trading on an all time high! Profits over the next couple of years will be huge.

That refreshes.

The £8 price targets are great fun to see :)/ Let's get to £6 again 1st.