Syndicate Results

RNS Number : 1190Y

Hiscox Ltd

27 February 2012

 



Syndicates 33 and 6104 - results and estimates

Hamilton, Bermuda (27 February 2012) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces its final results for Syndicate 33 and Syndicate 6104's 2009 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2010 and 2011 accounts.

The results for 2009, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Final Result	Previous estimate	Capacity	Hiscox share
33	2009	31.6%	22.5% to 30.0%	£750m	73%
6104	2009	64.7%	55.0% to 65.0%	£43m	0%

The estimates for 2010 and 2011, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2010	-5.0% to 5.0%	-10.0% to 0.0%	£1,000m	73%
33	2011	-12.5% to 2.5%	N/A	£900m	73%
6104	2010	-5.0% to 10.0%	-10.0% to 10.0%	£45m	0%
6104	2011	-10.0% to 10.0%	N/A	£37m	0%

ENDS

For further information:

Hiscox Ltd

Charles Dupplin, Group Company Secretary                                             [phone]

Kylie O'Connor, Head of Group Communications, London                          [phone]

Brunswick                                                                                            [phone]

Tom Burns

Notes to editors:

1. The Syndicates' results and 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, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA.

For further information, visit www.hiscox.com.

 

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