LONDON (dpa-AFX) - Risk insurance and reinsurance provider Beazley Group Plc (BEZ.L) reported Tuesday that first-half profit before tax surged 189 percent to $166.4 million from $57.5 million last year.
Earnings per share climbed to 26.4 cents from 9.1 cents a year ago. In terms of pence, earnings per share improved to 20.4 pence from 6.6 pence last year.
Gross premiums written increased 12 percent to $1.48 billion from last year's $1.32 billion. Net premiums written grew 11 percent to $1.23 billion from $1.11 billion last year.
Further, the company said its board has declared a first interim dividend of 4.1 pence, up from 3.9 pence last year, in line with its strategy of delivering 5-10 percent dividend growth. This will be paid on August 29 to shareholders on the register on August 2.
Looking ahead, Andrew Horton, Chief Executive Officer, said, 'We expect to achieve double digit growth over the full year, while continuing to reserve prudently... Investment returns are expected to be lower in the second half of the year.'
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