January 17, 2018 / 7:31 AM / a month ago

BRIEF-Beazley Sees Pre-Tax Profits For Year To Be Ahead Of Current Market Expectations

Jan 17 (Reuters) - Beazley Plc:

* PUBLISHES FOLLOWING POST-CLOSE TRADING UPDATE IN RESPECT OF YEAR ENDED 31 DECEMBER 2017

* WILL REPORT A COMBINED RATIO OF 99% FOR YEAR ENDED 31 DECEMBER 2017

* EXPECTS TO REPORT AN INVESTMENT RETURN OF 2.9% FOR YEAR ON AVERAGE INVESTED ASSETS OF $4.8BN

* NOTE A REDUCTION OF APPROXIMATELY $5M IN VALUE OF OUR US DEFERRED TAX ASSET FOLLOWING REDUCTION IN US CORPORATION TAX RATE FROM 35% TO 21%

* ANTICIPATES PRE-TAX PROFITS FOR YEAR ENDED 31 DECEMBER 2017 THAT WILL BE AHEAD OF CURRENT MARKET EXPECTATIONS Source text for Eikon: Further company coverage:

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