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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
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!