Syndicates 33 and 6104 result

RNS Number : 8050H

Hiscox Ltd

01 March 2010

 



Syndicates 33 and 6104 - result and estimates

Hamilton, Bermuda (1 March 2010) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces its final result for Syndicate 33's 2007 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2008 and 2009 accounts.

The result for 2007, expressed as a percentage of capacity, is as follows:

Syndicate	Year of account	Result	Previous estimate	Capacity	Hiscox share
33	2007	31.7%	22.5% to 30.0%	£874m	73%

The estimates for 2008 and 2009, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2008	2.5% to 10.0%	0.0% to 7.5%	£700m	73%
33	2009	2.5% to 10.0%	N/A	£750m	73%
6104	2008	25.0% to 32.5%	25.0% to 32.5%	£34m	0%
6104	2009	35.0% to 50.0%	N/A	£43m	0%

ENDS

For further information:

Hiscox Ltd
Charles Dupplin, Company Secretary, Bermuda	[phone]
Kylie O'Connor, Head of Communications, London	[phone]
Maitland	[phone]
Philip Gawith Anthony Silverman

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 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. Hiscox Insurance Company Limited, Hiscox Underwriting Ltd, Hiscox Europe Underwriting Ltd and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.

For further information, visit www.hiscox.com.

 

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