MARKET TALK: Beazley Results Strong, Beating Expectations

23rd Jul 2010 07:52

0652 GMT [Dow Jones] Beazley's (BEZ.LN) interim results are strong says KBC Peel Hunt with EPS of $0.18 well ahead of the brokerage's and consensus expectations. Says total pretax profit of $115.5M is boosted by an excellent reserving performance. Says the group's Chilean and Deepwater Horizon losses remain unchanged. KBC's forecasts remain unchanged. Says the shares now trade at a 1% premium to '10 net tangible assets of 121p and yield 6.3%. Keeps at buy with 161p price target. Shares closed on Thursday at 122p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 02:52 ET (06:52 GMT)