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Interim results last week were solid. Maybe some are now starting to absorb the results.
Possibly and FT keeps on flagging BEZ as a candidate. Happy to hold and see what plays out. BEZ is getting on with things and delivering regardless of others' interest
With todays agreed bid for Amlin, could we become the next target ?.
Beazley progresses as usual, quietly and firmly exceeding analyst/broker forecasts as ever
Solid results, no surprises, good to see the management continuing to acknowledge and response to competitive pressures.
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.