Beazley Plc · LSE:BEZ
Beazley — Investor Presentation (June 2019)
12 slides from Beazley's investor presentation, Jun 19, 2019
Slide 1: Analyst Seminar
Generic title white Analyst Seminar Wednesday, 19 June 2019
Slide 2: Agenda
Agenda Introduction and management changes – Andrew Horton (Chief Executive Officer) Year to date trading update and outlook – Adrian Cox (Chief Underwriting Officer) Q&A 2
Slide 3: Introduction and Management Changes
Introduction and Management Changes Andrew Horton
Slide 4: New Executive Committee
New Executive Committee Andrew Horton - CEO Adrian Cox - CUO Sally Lake – Group Finance Director Ian Fantozzi - COO Andrew Pryde - CRO Richard Montminy Tim Turner James Eaton Mike Donovan Christian Tolle Head of Head of Property Head of Marine Head of Specialty Lines Head of CyEx Political Accident
Slide 5: Management changes
Management changes ● Neil Maidment retired after 10 years as CUO, Adrian Cox appointed as CUO from January 2019 ● Adrian Cox has led Specialty Lines since 2008, he also chaired our US Management Committee between 2014 and 2016 from Chicago ● Specialty Lines has split into two divisions ● Specialty L
Slide 6: Year To Date Trading Update
Year To Date Trading Update Adrian Cox
Slide 7: Rate Changes January – May 2019
Rate Changes January – May 2019 Division 2019 Q1 rate Total Non-Binder Budget change (% change (% Change rate YTD) YTD) change Cyber and executive risk 0% 2% 2% 2% Political, accident and (1.5%) (1%) (1%) (1%) contingency Marine 4% 7% 7% 7% Property 2% 6% 9% 15% Specialty lines 1% 1% 3% 3% Treaty 0%
Slide 8: Underwriting action in property
Underwriting action in property The graph below shows, for the Open Market book of business, the quarterly development of the gross attritional incurred loss ratios. Incurred Loss Ratio Development 0.90 0.80 0.70 0.60 0.50 0.40 0.30 0.20 0.10 0.00 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Developmen
Slide 9: Progress against our 2019 plan
Progress against our 2019 plan ● SL has now split into two new divisions, SL and CyEx ● Strong growth at start of 2019 ● Double digit growth across all divisions except property ● SL international business continues to gain traction ● Rate increase across majority of portfolio ● Claims environment c
Slide 10: Rate change (%)
Cumulative rate change since 2015 115% 110% 105% 100% Rate change (%) 95% 90% 85% 80% 2015 2016 2017 2018 2019Q1 Marine Property Specialty Lines CyEx Reinsurance PAC All divisions 10
Slide 11: Outlook for 2019
Outlook for 2019 ● Premiums expected to grow by double digits in 2019 ● Rating environment momentum is continuing across the portfolio ● The active claims environment is expected to lead to a lower reserve release in 2019 ● Combined ratio higher than 5 year average 11
Slide 12: Questions?
Questions? Any Questions?