Latest news with #Beazley
Bloomberg
3 days ago
- Business
- Bloomberg
Lloyd's Insurer Beazley Gains New Bull to Bolster Unique Status
The only stock in the FTSE 100 with buy recommendations from every analyst that covers it just gained another bull. Beazley Plc was named a 'top pick' by Berenberg, which gave the Lloyd's of London insurer a 1,150 pence price target, higher than that of any other bank tracked by Bloomberg. The shares gained as much as 2.8% to a record 957 pence.
Business Mayor
15-05-2025
- Business
- Business Mayor
M&S cyber insurance payout to be worth up to £100mn
Unlock the Editor's Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Marks and Spencer could claim for losses of as much as £100mn from its cyber insurers following a sustained hack where some customer data was stolen. The UK retailer's cyber policy allows it to claim up to £100mn, according to people familiar with the situation. Allianz is the first insurer on the hook for M&S's losses, the people added, and is expected to pay at least the initial £10mn. Cyber specialist Beazley is also among the insurers exposed to losses at the FTSE 100 retailer, according to the people familiar with the situation. M&S admitted for the first time on Tuesday that some personal customer data was stolen as part of the cyber attack that has left the retailer unable to accept online orders for almost three weeks. The retailer told customers this 'could include contact details, date of birth and online order history' but it 'does not include usable card or payment details' or account passwords. It was working with law enforcement and government agencies, the FTSE 100 group added. The company will report its full-year results next week and is expected to update the market on the consequences of the hack. It may have lost revenues to date totalling more than £60mn, based on extrapolation of its average daily online sales. The attack on its systems also left M&S struggling to keep shelves stocked in some food stores, which has probably reduced sales further. The retailer's share price has fallen about 16 per cent since it disclosed the attack on April 22, wiping £1.3bn off its market capitalisation. M&S, Beazley and Allianz all declined to comment. The Co-op and Harrods have also been hit by recent cyber attacks. The Co-op said on Wednesday that it had entered a 'recovery phase' and was taking steps to bring its systems back online gradually. Stock availability, which has been hit by the IT disruption, would improve in its stores and online from this weekend, it said. M&S's cyber insurance cover, arranged by London-headquartered WTW, was expected to pay out in full, a senior market participant said. He expected this would be the case even if the breach were ultimately linked to a vulnerability with a third-party vendor to M&S. WTW declined to comment. The policy would cover both first-party losses, such as lost sales and incident response costs, as well as third-party losses, such as legal liabilities related to the data breach, the person added. M&S's annual insurance premium, at present under £5mn, could as much as double when the policy is renewed if the retailer does not demonstrate to insurers that it has improved its risk management practices, the person said. Recommended After surging during the pandemic, cyber insurance premiums generally had come down in recent months. Insurers had begun to offer more generous coverage and more attractive terms, including response times falling from 12 to eight hours before coverage kicks in. But UK retailers could face steeper prices for cyber cover following the recent attacks. Read More Why the cost of insurance is driving UK motorists to distraction A large payout for M&S could act as a 'proof of concept' for cyber insurance, one London-based insurance expert said, encouraging more small and medium-sized businesses to buy cover. Cyber attacks have cost UK businesses roughly £44bn in lost revenue over the past five years, according to a November report from broker Howden. Just over half of UK businesses faced at least one incident over that period, it said.
Times
14-05-2025
- Business
- Times
M&S in line for insurance payout of up to £100m after cyberattack
Marks & Spencer could claim £100 million on its insurance policy with Allianz after its operations were hit by a cyberattack. The retailer's policy provides for a claim of an initial £10 million to cover losses from the attack and could see the group demand a payout of up to £100 million, according to the Financial Times. Allianz is the first insurer liable under the possible claim and Beazley, an insurer that specialises in covering cyberattacks, is also exposed, the report said. Marks & Spencer said on Wednesday that customers' personal data had been stolen in the hack, but not payment or card details or account passwords. The attack has crippled its online operation for more than three weeks, and the group was also facing
Yahoo
13-05-2025
- Business
- Yahoo
Beazley plc's (LON:BEZ) Stock Been Rising: Are Strong Financials Guiding The Market?
Most readers would already know that Beazley's (LON:BEZ) stock increased by 1.8% over the past three months. Since the market usually pay for a company's long-term financial health, we decided to study the company's fundamentals to see if they could be influencing the market. Specifically, we decided to study Beazley's ROE in this article. Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Return on equity can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Beazley is: 25% = US$1.1b ÷ US$4.6b (Based on the trailing twelve months to December 2024). The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each £1 of shareholders' capital it has, the company made £0.25 in profit. See our latest analysis for Beazley So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features. To begin with, Beazley has a pretty high ROE which is interesting. Second, a comparison with the average ROE reported by the industry of 13% also doesn't go unnoticed by us. Under the circumstances, Beazley's considerable five year net income growth of 51% was to be expected. When you consider the fact that the industry earnings have shrunk at a rate of 8.2% in the same 5-year period, the company's net income growth is pretty remarkable. Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Beazley's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry. Beazley's three-year median payout ratio to shareholders is 21%, which is quite low. This implies that the company is retaining 79% of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company. Moreover, Beazley is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 24%. Still, forecasts suggest that Beazley's future ROE will drop to 18% even though the the company's payout ratio is not expected to change by much. On the whole, we feel that Beazley's performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
29-04-2025
- Business
- Reuters
UK insurer Beazley posts slight increase in first-quarter premiums written
April 29 (Reuters) - British insurer Beazley (BEZG.L), opens new tab on Tuesday reported a marginal increase in first-quarter insurance written premiums, driven by growth in its property risks division. The specialist insurance business reported gross written premiums of $1.51 billion for the three month period ended March 31, up from $1.48 billion last year.
