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Beazley
Beazley (BEZ) investor relations material
Beazley H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary4 Mar, 2026
Executive summary
Announced a recommended cash offer by Zurich Insurance Group to acquire all shares, valuing each share at 1,335p, including a 25p interim dividend, subject to regulatory and shareholder approval.
2025 marked strong operational and financial performance amid volatile market conditions, with disciplined underwriting and innovation driving results.
The Board remains confident in the Group’s viability over a five-year period, despite material uncertainty related to the Zurich offer.
Financial highlights
Profit before tax: $1,146.5m (2024: $1,423.5m); profit after tax: $913.4m (2024: $1,130.3m).
Insurance written premiums: $6,100.7m, down 1.0% year-over-year; net insurance written premiums: $5,198.7m, up 0.9%.
Combined ratio (discounted): 77.3% (2024: 74.8%); undiscounted: 81.2% (2024: 79.0%).
Net investment income: $607.5m (2024: $574.4m); investment return: 5.2%.
Earnings per share: 113.4p (2024: 137.0p); net assets per share: 612.0p (2024: 570.5p).
Return on equity: 19.3% (2024: 26.6%).
Interim dividend of 25p per share approved.
Outlook and guidance
The Group targets mid-single digit premium growth and a mid-80s undiscounted combined ratio across the cycle.
Cross-cycle ROE target remains at 15%.
Continued focus on disciplined underwriting, innovation, and expansion into Bermuda to drive long-term growth.
The Zurich offer introduces material uncertainty, but the Board expects continued viability and operational resilience.
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Next Beazley earnings date
H1 202612 Aug, 2026
Beazley
Next Beazley earnings date
H1 202612 Aug, 2026
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