Syndicates 33 and 6104 - results and estimates

RNS Number : 7132E

Hiscox Ltd

02 March 2020

 

Syndicates 33 and 6104 - results and estimates

Hamilton, Bermuda (2 March 2020) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104's 2017 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2018 and 2019 accounts.

The results for 2017 expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Closing result	Previous estimate	Capacity	Hiscox share
33	2017	0.0%	(7.5%) to 2.5%	£1,147m	73%
6104	2017	(35.0%)	(40.0%) to (30.0%)	£54m	0%

The estimates for 2018 and 2019, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2018	(10.0%) to 0.0%	(10.0%) to 0.0%	£1,598m	73%
33	2019	(7.5%) to 2.5%	N/A	£1,399m	73%
6104	2018	(60.0%) to (50.0%)	(60.0%) to (50.0%)	£56m	0%
6104	2019	(95.0%) to (85.0%)	N/A	£55m	0%

ENDS

For further information

Hiscox Ltd 

Marc Wetherhill, Group Company Secretary, Bermuda [phone]
Kylie O'Connor, Head of Group Communications, London  [phone]
Ryan Thompson, Investor Relations Manager, London [phone]

Brunswick

Tom Burns  [phone]
Simone Selzer  [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. 

The Hiscox Group employs over 3,100 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, 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, 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 .

 

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