Completion of share repurchase
programme
Hamilton, Bermuda (15 August 2024) - Hiscox Ltd ("Hiscox" or the "Company") today announces that,
further to the share repurchase programme announced on 5 March 2024
to buy back its ordinary shares of 6.5 pence each ("Ordinary
Shares") for a maximum aggregate consideration of $150 million (the
"Programme"), the Company completed the second and final tranche of
the Programme on 14 August 2024.
The Company purchased 4,896,100
Ordinary Shares between 5 March 2024 and 2 May 2024 pursuant to the
agreement with Peel Hunt LLP to conduct the initial tranche of the
Programme totalling $75
million (excluding expenses). The
Company purchased 5,052,784 Ordinary Shares between 3 May 2024 and
14 August 2024 pursuant to the agreement with Citigroup Global
Markets Limited ("Citigroup") to conduct the second tranche of the
Programme totalling $75 million (excluding expenses). A total of
9,948,884 Ordinary Shares have been purchased pursuant to the share
repurchase programme.
Having completed the second tranche,
Hiscox confirms it has now successfully completed the $150 million
Programme.
ENDS
For
further information
Investors and analysts
Yana O'Sullivan, Director of Investor
Relations, London +44 (0)20 3321 5598
Marc Wetherhill, Group Company
Secretary, Bermuda +1 441 278 8300
Media
Eleanor Orebi Gann, Group Director of
Communications, London +44 (0)20 7081 4815
Simone Selzer, Brunswick +44 (0)20
7404 5959
Tom Burns, Brunswick +44 (0)20 7404
5959
Notes to
editors
About The Hiscox Group
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.
The Hiscox Group employs over 3,000
people in 14 countries, and has customers worldwide. Through the
retail businesses in the USA, UK, Europe and Asia, we offer a range
of specialist insurance products in commercial and personal lines.
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, courage, ownership and integrity. 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.
