RNS Number : 3741U

Beazley PLC

01 April 2021

Beazley plc

London, 1 April 2021

Beazley plc - Remuneration Disclosure

Beazley plc (the "Company") announces that remuneration arrangements for Adrian Cox and Andrew Horton will be in-line with the Company's Directors' Remuneration Policy as approved at the 2020 AGM.

Andrew Horton's remuneration on departure

Andrew will continue to receive salary, pension and benefits until 1 September 2021. He will not be eligible for an annual bonus in respect of the current financial year.

All unvested LTIP and deferred share awards lapse on Andrew's departure, in-line with the relevant plan rules.

Adrian Cox's remuneration on appointment

Adrian's base salary on appointment is set at GBP507,500, in-line with the Andrew Horton's current salary. His pension benefit is unchanged at 12.5% of salary, in-line with the pension opportunity available to the workforce. His maximum bonus opportunity for 2021 is unchanged at 400% of salary.

Adrian's maximum LTIP opportunity for 2021 is set at 200% of salary, in-line with the Policy for the CEO.

A grant of nil cost options under the Beazley plc Long Term Incentive Plan ("LTIP") over the Company's ordinary shares of 5 pence each was made to Adrian on 1 April 2021 to align his LTIP opportunity with the policy for the CEO.

 Director      Number of nil-cost options 
                over ordinary shares 
 Adrian Cox    113,079 

There was no consideration for the grant of the award and the exercise price is nil. Ordinarily, 50% of each award will vest on the third anniversary of the date of grant and will be subject to a 2-year holding period commencing on the vesting date. Ordinarily the second 50% of each award will become exercisable on the fifth anniversary of the date of grant. The award will vest to the extent that the performance condition is satisfied and it is also subject to the participant meeting both shareholding requirements and to their continued employment.

For further information please contact:

Beazley plc

Christine Oldridge

+44 (0)20 7674 7758

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation (No. 596/2014).

Notification of transactions of persons discharging managerial responsibility or connected persons

 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                     Adrian Cox 
     ---------------------------------------  ----------------------------------- 
 2    Reason for the notification 
 a)   Position/status                          Director 
     ---------------------------------------  ----------------------------------- 
 b)   Initial notification/amendment           Initial notification 
     ---------------------------------------  ----------------------------------- 
 3    Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or auction 
 a)   Name                                     Beazley plc 
     ---------------------------------------  ----------------------------------- 
 b)   LEI                                      213800VTOMUWD41GIT12 
     ---------------------------------------  ----------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type 
       of transaction; (iii) each date; and (iv) each 
       place where transactions have been conducted 
 a)   Description of the                  Ordinary shares of 5 pence each 
       financial instrument, 
       type of instrument                  GB00BYQ0JC66 
       Identification code 
     ----------------------------------  ---------------------------------------- 
 b)   Nature of the transaction           Grant of share options under 
                                           the Beazley plc Long Term Incentive 
                                           Plan ('LTIP'). 
     ----------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s)               Transaction    Price(s)   Volume(s) 
                                                  LTIP     0.00p      113,079 
                                                          ---------  ---------- 
     ----------------------------------  ---------------------------------------- 
 d)   Aggregated information 
       - Aggregated volume                  n/a 
       - Price                              n/a 
     ----------------------------------  ---------------------------------------- 
 e)   Date of the transaction             1 April 2021 
     ----------------------------------  ---------------------------------------- 
 f)   Place of the transaction            Grant of the options occurred 
                                           outside a trading venue. 
     ----------------------------------  ---------------------------------------- 

Note to editors:

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, North America, Latin America and Asia. Beazley manages six Lloyd's syndicates and, in 2020, underwrote gross premiums worldwide of $3,563.8 million. All Lloyd's syndicates are rated A by A.M. Best.

Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.

Beazley's European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber liability, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

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April 01, 2021 10:19 ET (14:19 GMT)