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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Beazley rallies on $300m return programme, guidance upgrade

(Sharecast News) - Insurance firm Beazley updated guidance on its undiscounted combined ratio on Thursday and announced an additional capital return programme. Beazley said its undiscounted combined ratio has improved from "low-80s to mid-70s for 2023" as a result of better-than-expected claims experience during the year.

The FTSE 100-listed group added that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, which was currently expected to be around $300.0m.

Beazley will announce its year-end results on 7 March.

As of 0920 GMT, Beazley shares had surged 9.19% to 635.50p.

Reporting by Iain Gilbert at Sharecast.com

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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