Beazley plc (LON:BEZ) has announced its results for period ended 31 December 2025
• Profit before tax of $1,146.5m (2024: $1,423.5m)
• Insurance written premiums of $6,100.7m (2024: $6,164.1m)
• Net insurance written premiums of $5,198.7m (2024: $5,152.3m)
• Undiscounted combined ratio of 81% (2024: 79%)
• Discounted combined ratio of 77% (2024: 75%)
• Return on equity of 19% (2024: 27%)
• Interim dividend per share of 25.0p (2024: 25.0p)
• As things stand, our exposure to the unfolding events in the Middle East is limited, and we do not expect to be materially impacted.
• The Board announced on 2 March that it has agreed terms of a recommended all-cash offer for the purchase of Beazley by Zurich.
| Year ended31 December 2025 | Year ended31 December 2024 | %movement | |
| Insurance Written Premiums ($m) | 6,100.7 | 6,164.1 | (1)% |
| Net Insurance Written Premiums ($m) | 5,198.7 | 5,152.3 | 1% |
| Insurance Service Result ($m) | 1,169.1 | 1,236.0 | (5)% |
| Profit before tax ($m) | 1,146.5 | 1,423.5 | (19)% |
| Earnings per share (pence) | 113.4 | 137.0 | (17)% |
| Net assets per share (pence) | 612.0 | 570.5 | 7% |
| Net tangible assets per share (pence) | 583.9 | 545.9 | 7% |
Adrian Cox, Chief Executive Officer, said:
“In 2025, Beazley delivered another strong profit, amidst a volatile global backdrop and in a softening insurance rating environment. In these conditions, our robust underwriting discipline and active cycle management continued to ensure our success.
As we start 2026, we continue to see a similar pattern of competitive insurance pricing and global instability. In this environment, we remain resolutely focused on profitable underwriting and innovating into growth opportunities, particularly with our new Bermuda entity and insurance solutions for the energy transition.
On 2 March 2026, Beazley’s Board announced it had agreed the terms of a recommended acquisition by Zurich Insurance Group Ltd of Beazley plc. As Beazley continues its exciting journey as a leading specialty insurer, our focus remains on business as usual, working in the interests of our clients, strengthening our relationships with brokers and continuing to attract and retain the best talent.”
