BEZ FINANCIAL STATEMENTS

Beazley plc — balance sheet, income statement and cash flow trends

BEZBeazley plc

🇬🇧 UK · LSE · Financial Services · Insurance - Specialty

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.1 B $-69.5%

Gross Profit2.2 B $-37.7%

Operating Income1.1 B $+96.3%

EBITDA1.2 B $+100.7%

Net Income932.6 M $+93.0%

Peer Comparison· Insurance - Specialty

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
BEZ	—	—	—	88.1%
JRVR	—	—	—	4.3%
MBI	—	—	—	-172.2%
ITIC	—	—	—	13.6%
AMSF	—	—	—	14.3%
TIPT	—	—	—	2.9%
Industry median	—	—	—	12.4%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2025

Equity4.9 B $30%
Long-term Liabilities11.3 B $70%

Key Figures

YoY change

Total Assets16.2 B $+7.3%

Total Liabilities11.3 B $-9.6%

Total Equity4.9 B $+89.4%

Cash & ST Investments1.4 B $+109.8%

Total Debt626.9 M $+1.0%

Net Debt-742.1 M $—

Peer Comparison· Insurance - Specialty

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
BEZ	—	12.9%	-0.60	30.1%
JRVR	0.90	50.6%	-11.24	13.7%
MBI	2.76	-148.1%	55.50	-115.4%
ITIC	3.53	3.2%	-2.03	75.5%
AMSF	0.54	—	—	22.0%
TIPT	0.32	15.9%	0.50	7.2%
Industry median	2.53	20.5%	-0.54	30.3%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
BEZ	—	12.9%	-0.60	30.1%
ADM	6.56	131.2%	1.47	16.0%
SDR	92.37	20.7%	-4.40	18.1%
PSH	2.14	24.4%	0.65	77.7%
MNG	1.92	220.4%	1.03	1.6%
HSX	—	22.8%	0.03	32.4%
Industry median	2.53	20.5%	-0.54	30.3%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2025 · TTM

Key Figures

YoY change

Operating Cash Flow970.7 M $-11.5%

Capital Expenditures13.7 M $-42.3%

Free Cash Flow957.1 M $-10.8%

Dividends Paid-215.4 M $-309.2%

Peer Comparison· Insurance - Specialty

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
BEZ	91.7%	90.5%	1.3%	104.1%
JRVR	4.8%	4.2%	0.5%	110.6%
MBI	53.3%	53.3%	0.0%	-31.0%
ITIC	11.6%	9.8%	1.9%	85.7%
AMSF	3.1%	2.5%	0.7%	21.9%
TIPT	17.4%	17.6%	0.7%	604.8%
Industry median	18.5%	17.6%	0.6%	105.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
BEZ	91.7%	90.5%	1.3%	104.1%
ADM	13.2%	7.1%	1.3%	97.9%
SDR	18.2%	37.2%	0.6%	110.6%
PSH	-25.6%	-25.6%	0.0%	-29.7%
MNG	3.6%	2.8%	0.8%	260.6%
HSX	0.9%	0.9%	0.1%	6.8%
Industry median	18.5%	17.6%	0.6%	105.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
BEZ	—	—	—	88.1%
ADM	—	—	—	13.5%
SDR	—	—	—	16.4%
PSH	—	—	—	86.3%
MNG	—	—	—	1.4%
HSX	—	—	—	13.8%
Industry median	—	—	—	12.4%