July 21, 2017 / 6:20 AM / 2 months ago

BRIEF-Beazley posts H1 pretax profit of $158.7 million

July 21 (Reuters) - Beazley Plc:

* H1 profit before tax $158.7 million versus $150.2 million in H1 2016

* H1 return on equity of 18 percent versus 19 percent in H1 2016

* H1 gross premiums written $1.15 billion versus $1.12 billion in h1 2016

* H1 combined ratio of 90 percent versus 90 percent in H1 2016

* H1 rate reduction on renewal portfolio of 2 pct(30 June 2016: reduction of 2%)

* Prior year reserve releases of $83.4 million versus $77.4 million year ago

* H1 net investment income of $79.4 million versus $62.7mln in H1 2016

* Interim dividend of 3.7 pence per share versus 3.5 pence per share in h1 2016

* “our us operations performed strongly and our newly authorised dublin based insurance company will support our growth plans in europe”-CEO

* For most insurers, current market conditions are not conducive to growth

* Believe that beazley can continue to grow in mid single digits while generating underwriting profits Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below