Welcome to EQUITY DEVELOPMENT

The UK's longest established regulated provider of sponsored equity research.

We launched EQUITY DEVELOPMENT in 1997 becoming the first ever  regulated provider of Sponsored Equity Research in the UK.

Our research teams are made up of expert analysts with deep understanding & experience in their sectors.  Our research is distributed to all relevant investment classes & commentators. (at no cost to the reader).

We have made our name by specialising in those companies who are not receiving the attention that they merit, using detailed commentary, appropriate valuation metrics and regular publications to help eradicate undervaluation in the medium term.

 

FREE REGISTRATION

Sign up today and access the very latest company research

LOG IN

For access to all company research please

Beazley

Beazley is a high-quality non-life insurer, operating through two Lloyd’s syndicates and an “admitted lines” US Insurance company.  It has an exceptional track record for underwriting having provided the Names on its syndicate with a profit on every closed year of account since it started.

Beazley; strength in a storm

  • Pre tax profit despite hurricanes
  • Risk management process proven
  • Fair price 129p vs current 117

Publication Date:
March 23 2006

Beazley; well set for 2006

  • A major force at Lloyd’s,with over 5% total stamp
  • Quality of underwriting and risk management proven in 2005 market
  • Upgrades to 2006 forecast EPS and PBT
  • Low PER (e), high yield
  • Means 121p / share fair value vs. current 96p

Publication Date:
January 9 2006

Beazley; Well placed to ride out the storm

  • Strong first half results
  • Katrina to impact full year profits...
  • ...but positive effect on future premiums
  • Only 7.4x PER estimated for 2006

Publication Date:
September 14 2005

Beazley; we increase forecasts

Beazley increased pre-tax profits by 95% and earnings by 86% in 2004, despite the impact of the most expensive hurricane season recorded.

The increase of onethird in the dividend to 1p was accompanied by a reiteration of the intention to pay at least 4p for 2005, putting the shares on a prospective yield of 4.5%.

Publication Date:
March 29 2005

Beazley; rights issue and acquisition

  • The rights issue plus the proposed purchase and capitalisation of BICI look sensible strategic actions and should prove EPS enhancing on a medium term basis (meaning for 2007).

  • However, there will be a price in the near term in EPS dilution - we estimate this will be 34.7% in 2005 owing to the fact that as a result of the group’s prudent accounting the initial p&l impact of the extra Syndicates capacity recently secured will be minor. In addition, the group’s enlarged US operations are expected by management to lose $5m in 2005.

Publication Date:
November 10 2004

previous next