Syndicates 33 and 6104 - resu

RNS Number : 5017O

Hiscox Ltd

09 March 2009

 



Syndicates 33 and 6104 - result and estimates

Hamilton, Bermuda (9 March 2009) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces its result for Syndicate 33 for the 2006 year of account. It also announces its current estimates for Syndicate 33's 2007 and 2008 years of account and for Syndicate 6104's 2008 account. 

The result for 2006, expressed as a percentage of capacity, is as follows:

Syndicate	Year of account	Result	Previous estimate	Capacity	Hiscox share
33	2006	36.8%	22.5% to 30.0%	£832m	73%

The estimates for 2007 and 2008, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2007	10.0% to 17.5%	7.5% to 15.0%	£874m	73%
33	2008	0.0% to 7.5%	-	£700m	73%
6104	2008	10.0% to 25.0%	-	£34m	0%

ENDS

For further information:

Hiscox Ltd
Robin Mehta, Company Secretary, Bermuda	[phone]
Kylie O'Connor, Head of Communications, London	[phone]
Maitland	[phone]
Suzanne Bartch
Richard Farnsworth

Notes to editors:

1. The Syndicates' result 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 Global Markets, Hiscox UK and Europe and Hiscox International. Hiscox Global Markets underwrites mainly 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. Hiscox Insurance Company Limited, Hiscox Underwriting Limited and Hiscox Syndicates Ltd are regulated by the Financial Services Authority. For further information, visit www.hiscox.com.

 

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