Repurchase of Ordinary Shares

RNS Number : 7004Q

Beazley PLC

06 August 2010

 



Beazley plc

Dublin, 6^th August 2010

Repurchase of Ordinary Shares

On 24 March 2010 it was announced that the Company's shareholders had approved at the Annual General Meeting held on 24 March 2010 (the "AGM"), a renewal of the Repurchase Program, authorising Beazley to make one or more purchases of its issued Ordinary Shares ("Ordinary Shares") up to a maximum of 53,382,580 shares (representing approximately 10 per cent. of the Company's issued share capital).

Further to this general authority to repurchase, Beazley today announces that it has purchased a total of 7,400,000 of its Ordinary Shares at a price of 112.6 pence pursuant to a buyback  trade  conducted by Numis Securities Limited on behalf of the Company.  All the purchased shares will be held as Treasury shares.

Following the above repurchase, the Company holds 14,551,536 Ordinary Shares in Treasury. The number of Ordinary Shares repurchased represents 2.7% of the voting rights attributable to the total Ordinary Shares in issue prior to such repurchases.  

The Company has 520,291,723 Ordinary Shares in issue (excluding Treasury shares).

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

For further information, please contact:  

Beazley Plc                             + 353 (0)1 854 4700

Sian Coope

Numis Securities:                   [phone]

Charlie Farquhar

Ben Stoop

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, the US, Asia and Australia.  Beazley manages five Lloyd's syndicates and, in 2009, underwrote gross premiums worldwide of £1,115.5 million.  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 is a market leader in many of its chosen lines, which include professional indemnity, 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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