Beazley’s FY17 PBT of US$168.0m was in line with our expectations and is a strong result given the 2017 cat losses, in our view. The 8.7% ROE is impressive, and represents a return several peers would be pleased to report even before the 2017 cats. Whilst much of the PBT was driven by a very strong investment return (2.9%), Beazley still delivered a small underwriting profit, boosted by a strong contribution (underwriting/reserve release) from Speciality Lines (now 55% of the book), und
12 Feb 2018
A strong FY result in a difficult year
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A strong FY result in a difficult year
Beazley Plc (BEZ:LON) | 665 -39.9 (-0.9%) | Mkt Cap: 4,452m
- Published:
12 Feb 2018 -
Author:
Joanna Parsons -
Pages:
6
Beazley’s FY17 PBT of US$168.0m was in line with our expectations and is a strong result given the 2017 cat losses, in our view. The 8.7% ROE is impressive, and represents a return several peers would be pleased to report even before the 2017 cats. Whilst much of the PBT was driven by a very strong investment return (2.9%), Beazley still delivered a small underwriting profit, boosted by a strong contribution (underwriting/reserve release) from Speciality Lines (now 55% of the book), und