Beazley plc (LSE:BEZ) announces a share repurchase program. Under the program, the company will repurchase up to £255 ($325) million worth of its shares. The purpose of the Program is to reduce the share capital of the company and the program will be financed through existing cash resources.

the maximum price which may be paid for an Ordinary Share will not be more than the higher of: an amount equal to 105% of the average of the middle market quotations of an Ordinary Share (as derived from the London Stock Exchange plc's Daily Official List) for the 5 business days immediately preceding the purchase; and an amount equal to the higher of (i) the price of the last independent trade of an Ordinary Share; and (ii) the highest current independent bid for an Ordinary Share on the London Stock Exchange at the time the purchase is carried out. Repurchased shares will be cancelled. The program is valid till December 31, 2024.

As at March 7, 2024, the company's total issued share capital consisted of 672,542,440 Ordinary Shares and no Ordinary Shares in treasury.