Beazley Plc is the only stock in the FTSE 100 to have buy recommendations from all analysts covering it, following an additional positive rating from Berenberg, according to a report from Bloomberg.
Berenberg named Beazley, a specialist insurer operating within the Lloyd’s of London market, as a ‘top pick’ and set a price target of 1,150 pence, which is the highest among banks tracked by Bloomberg. The announcement saw Beazley’s shares rise as much as 2.8% to a record 957 pence.
This marks the sixteenth broker to issue a buy-equivalent rating on Beazley, making it the only UK blue-chip stock without any hold or sell recommendations, according to Bloomberg data.
Beazley operates across several niche insurance areas, including cyber insurance, professional liability, property, marine, and political risks. The firm conducts its business through Lloyd’s syndicates and international subsidiaries.
Analysts Michael Christodoulou and Michael Huttner of Berenberg said that upside risks remain despite recent share price gains. They expect an improvement in cyber insurance pricing to benefit Beazley after two years of price declines, supporting revenue growth. Beazley’s underwriting approach and diverse portfolio have helped it maintain profitability in a competitive market.
In its latest financial results, Beazley reported a 2% increase in insurance written premiums to US%1.51 billion for the first quarter of 2025, up from US$1.48 billion in the same period last year. Renewal premium rates declined by 4%, reversing a 1% increase reported last year.
Meanwhile, the company reported investment income of US$136 million, representing a 1.2% return, in line with the same return rate reported a year earlier.
In addition, the company appointed Sydonie Williams as head of international cyber risks and Lindsay Shipper as head of North America commercial property, signalling a focus on strengthening leadership in key markets.
Looking ahead, Beazley expects mid-single-digit growth in gross written premiums in 2025, with a combined ratio in the mid-80s. The company remains well capitalised to pursue growth opportunities and maintain its financial position.
