REG - Beazley PLC - Alternative performance measure correction - NAVps

BeazleyAnnouncement

07/03/2023 07:00

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RNS Number : 0736S  Beazley PLC  06 March 2023

 

 

Beazley plc

 

London, 6 March 2023

 

 

Alternative performance measure correction - NAVps

 

The press release "Beazley plc results for year end 31 December 2022"
published at 7.00am on the 2 March 2023, contained an error relating to the
number of shares used to calculate two of our alternative performance metrics,
net assets per share and net tangible assets per share. The original
calculation had used the weighted average number of shares for the year
(excluding shares held in the employee benefit trust). This has been corrected
to the closing number of shares as at 31 December 2022 (excluding shares held
in the employee benefit trust).

 

The table below sets out the corrected information:

                                        Period ended
31 December 2022

 Net assets per share (pence)           315.6
 Net tangible assets per share (pence)  299.8

 Net assets per share (cents)           386.7
 Net tangible assets per share (cents)  367.4

 Number of shares                       665.4

 

All other numbers within the RNS issued on 2 March 2023 and Annual Report and
Accounts issued 3 March 2023 remain the same, save for those impacted by net
asset per share within the Directors' Remuneration Report. These will be
updated as soon as practicable within the Annual Report and Accounts.
Executive Director payments will be made on the correct basis noted above.

For further information please contact:

 

Beazley plc

Sarah Booth

 

+44 (020) 7674 7582

 

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses
with operations in Europe, North America, Latin America and Asia. Beazley
manages seven Lloyd's syndicates and, in 2022, underwrote gross premiums
worldwide of $5,268.7million. All Lloyd's syndicates are rated A by A.M.
Best.

Beazley's underwriters in the United States focus on writing a range of
specialist insurance products. In the admitted market, coverage is provided by
Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all
50 states. In the surplus lines market, coverage is provided by the Beazley
syndicates at Lloyd's.

Beazley's European insurance company, Beazley Insurance dac, is regulated by
the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.

Beazley is a market leader in many of its chosen lines, which include
Professional Indemnity, Cyber Liability, Property, Marine, Reinsurance,
Accident and Life, and Political Risks and Contingency Business.

For more information please go to: www.beazley.com

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