Beazley PLC (OTCPK:BZLYF)

$ 8.67 0 (0%) Market Cap: 5.56 Bil Enterprise Value: 5.41 Bil PE Ratio: 5.64 PB Ratio: 1.46 GF Score: 77/100

Beazley plc - Special Call Transcript

Sep 22, 2020 / 07:00AM GMT

Release Date Price: $5.53

Transcript

Operator

Hello, and welcome to the Beazley conference call. My name is Jas and I'll be your coordinator for today's event. (Operator Instructions)

I will now hand you over to your host, Andrew Horton, Chief Executive, to begin today's call. Thank you.

David Andrew Horton

Beazley plc - CEO & Executive Director

Thank you. Good morning, everybody. We put out a statement at 7:00 this morning, updating the market on our contingency claims. So to give a bit of background. When we estimated our COVID-19 losses at $170 million in April and then gave it a further update in July, stating that number was fine at that point in time, it has a certain estimate of when the world would return to some form of normality, especially in the event cancellation space. If you remember back in April, we set up $170 million: $100 million was property reinsurance and marine; and $70 million was through our political, accident and contingency division, the majority of that $70 million being for contingency.

We also, I think, talked about our clash reinsurance program and

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