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Beazley ups FY'17 dividend despite profit falling YOY

Beazley Plc proposed a full-year 2017 divided of 11.1 pence per share, up 6% from 10.5 pence per share in 2016 despite its profit attributable to equity holders falling to $130 million from $251 million year over year.

EPS decreased 45% to 19.5 pence from 35.5 pence in the year-ago period.

The insurer booked gross written premiums of $2.34 billion in 2017, 7% higher than the $2.20 billion a year earlier, while net written premiums also increased year over year to $2 billion from $1.90 billion.

CEO David Horton attributed the decline in the firm's profit to the "exceptional series" of natural disasters that struck the U.S., the Caribbean and Mexico in 2017, including hurricanes Harvey, Irma and Maria.