(Alliance News) - Insurer Beazley PLC on Thursday lifted annual guidance and said shareholders could net a USD300 million "additional" return.
The company now expects an undiscounted combined ratio in the "mid-70s" for 2023, an improvement on the previous "low-80s" guidance. A combined ratio below 100% means a profit on underwriting, so the lower the better.
In addition, it said shareholders can expect an "additional capital return in respect of 2023" of USD300 million.
It announces annual results on March 7.
Beazley shares jumped 9.2% to 635.25 pence each in London on Thursday morning.
By Eric Cunha, Alliance News news editor
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Beazley (BEZ)