Syndicates 33 and 6104 - results and estimates

RNS Number : 6977D

Hiscox Ltd

04 March 2022

 

Syndicates 33 and 6104 - results and estimates

Hamilton, Bermuda (4 March 2022) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104's 2019 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2020 and 2021 accounts.

The results for 2019 expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Closing result	Previous estimate	Capacity	Hiscox share
33	2019	(1.5%)	(7.0%) to 3.0%	£1,399m	73%
6104	2019	1.9%	(20.5%) to (10.5%)	£55m	0%

The estimates for 2020 and 2021, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2020	(8.2%) to 1.7%	(8.0%) to 2.0%	£1,698m	73%
33	2021	(2.6%) to 7.4%	N/A	£1,699m	73%
6104	2020	(12.4%) to (2.4%)	(20.0%) to (10.0%)	£44m	0%
6104	2021	(22%) to (12%)	N/A	£23m	0%

ENDS

F or further information:

Hiscox Ltd

Marc Wetherhill, Group Company Secretary, Bermuda  [phone]

Kylie O'Connor, Group Communications Director, London            [phone] 

Yana O'Sullivan, Head of Investor Relations, London                   [phone]
 

Brunswick

Tom Burns                                                                                     [phone]

Simone Selzer                                                                               [phone]

Notes to editors

About The Hiscox Group

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 3,000 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 .

 

END

 

 

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