Syndicates 33 and 6104 - estimates

RNS Number : 5054V

Hiscox Ltd

30 July 2018

 

Syndicates 33 and 6104 - estimates

Hamilton, Bermuda (30 July 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 account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2016	(5.0%) to 5.0%	(5.0%) to 5.0%	£999m	73%
33	2017	(10.0%) to 0.0%	(15.0%) to (5.0%)	£1,147m	73%
6104	2016	30.0% to 40.0%	20.0% to 30.0%	£56m	0%
6104	2017	(40.0%) to (30.0%)	(45.0%) to (35.0%)	£54m	0%

ENDS

For further information:
Hiscox Ltd
Marc Wetherhill, Group Company Secretary Kylie O'Connor, Head of Group Communications, London	[phone] [phone]
Brunswick
Tom Burns Simone Selzer	[phone] [phone]

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 £93.6 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.

 

END

 

 

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