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    Beazley plc results for period ended 30 June 2016

    Beazley plc results for period ended 30 June 2016

    • Profit before income tax of $150.2m (30 June 2015: $154.5m)
    • Return on equity of 19% (30 June 2015: 20%)
    • Gross premiums written increased by 2% to $1,124.1m (30 June 2015: $1,099.7m)
    • Combined ratio of 90% (30 June 2015: 86%)
    • Rate decrease on renewal portfolio of 2% (30 June 2015: decrease of 2%)
    • Prior year reserve releases of $77.4m (30 June 2015: $74.5m)
    • Net investment income of $62.7m (30 June 2015: $43.5m)
    • First interim dividend of 3.5p (30 June 2015: 3.3p) 

     

    Period ended
    30 June 2016
    Period ended
    30 June 2015
    % movement
    Gross premiums written ($m) 1,124.1 1,099.7 2%
    Net premiums written ($m) 930.4 879.2 6%
    Profit before income tax ($m) 150.2 154.5 (3%)
    Earnings per share (pence) 17.3 17.2
    Net assets per share (pence) 199.3 167.8
    Net tangible assets per share (pence) 186.3 156.6
    Dividend per share (pence) 3.5 3.3 6%


    Andrew Horton, Chief Executive Officer, said:

    "Our business in the US continued to grow strongly in the first half of the year, partially offset by continued premium rate declines for much of the large risk business we underwrite in London.  The global attractiveness of Beazley to talented underwriters with entrepreneurial flair was very clear. We welcomed 36 new underwriters in the first half across a wide range of disciplines, including healthcare, environmental, marine, and fine art and specie."

     

    Full interim results statement available to download below: