Hiscox Ltd Syndicate Results (0222N)
08 May 2018 - 4:00PM
UK Regulatory
TIDMHSX
RNS Number : 0222N
Hiscox Ltd
08 May 2018
Syndicates 33 and 6104 - estimates
Hamilton, Bermuda (8 May 2018) - Hiscox Ltd (LSE: HSX), the
international specialist insurer, announces the current estimates
for Syndicate 33 and Syndicate 6104's 2016 and 2017 accounts.
The estimates for 2016 and 2017, expressed as a percentage of
capacity, are as follows:
Syndicate Year of Current Previous Capacity Hiscox
account estimate estimate share
---------- --------- ------------ ----------- ---------- -------
(5.0%) to (7.5%) to
33 2016 5.0% 2.5% GBP999m 73%
---------- --------- ------------ ----------- ---------- -------
(15.0%) (15.0%) to
33 2017 to (5.0%) (5.0%) GBP1,147m 73%
---------- --------- ------------ ----------- ---------- -------
20.0% to 20.0% to
6104 2016 30.0% 30.0% GBP56m 0%
---------- --------- ------------ ----------- ---------- -------
(45.0%) (55.0%) to
6104 2017 to (35.0%) (45.0%) GBP54m 0%
---------- --------- ------------ ----------- ---------- -------
ENDS
For further information:
Hiscox Ltd
Marc Wetherhill, Group Company
Secretary
Kylie O'Connor, Head of Group +1 441 278 8300
Communications, London +44 (0) 20 7448 6656
Brunswick
Tom Burns +44 (0) 20 7404 5959
Simone Selzer +44 (0) 20 7404 5959
Notes to editors:
1. The Syndicates' estimates are after standard personal
expenses, such as Managing Agent fees and profit commission and all
charges levied directly on syndicates by Lloyd's, but before
Members Agents' charges.
2. Hiscox is a global specialist insurer, headquartered in
Bermuda and listed on the London Stock Exchange (LSE:HSX). Our
ambition is to be a respected specialist insurer with a diverse
portfolio by product and geography. We believe that building
balance between catastrophe-exposed business and less volatile
local specialty business gives us opportunities for profitable
growth throughout the insurance cycle. It's a long-standing
strategy which in 2017 saw the business deliver a profit before tax
(excluding foreign exchange) of GBP93.6 million despite reserving
net $225 million for claims in the most costly year ever for
natural catastrophes.
The Hiscox Group employs over 2,700 people in 14 countries, and
has customers worldwide. Through the retail businesses in the UK,
Europe, Asia and the US, we offer a range of specialist insurance
for professionals and business customers as well as homeowners.
Internationally traded, bigger ticket business and reinsurance is
underwritten through Hiscox London Market and Hiscox Re &
ILS.
Our values define our business, with a focus on people, quality,
courage and excellence in execution. We pride ourselves on being
true to our word and our award-winning claims service is testament
to that. For more information, visit www.hiscoxgroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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