Beazley updates guidance on undiscounted combined ratio

22nd Feb 2024 08:05

(Sharecast News) - Insurance firm Beazley updated guidance on its undiscounted combined ratio on Thursday and announced an additional capital return programme.

Beazley said its undiscounted combined ratio has improved from "low-80s to mid-70s for 2023" as a result of better-than-expected claims experience during the year.

The FTSE 100-listed group added that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, which was currently expected to be around $300.0m.

Beazley will announce its year-end results on 7 March.

As of 0920 GMT, Beazley shares had surged 9.19% to 635.50p.

Reporting by Iain Gilbert at Sharecast.com