Syndicates 33 and 6104 - results and estimates

RNS Number : 9350Q

Hiscox Ltd

03 March 2021

 

Syndicates 33 and 6104 - results and estimates

Hamilton, Bermuda (3 March 2021) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104's 2018 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2019 and 2020 accounts.

The results for 2018 expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Closing result	Previous estimate	Capacity	Hiscox share
33	2018	0.1%	(7.0%) to 3.0%	£1,598m	73%
6104	2018	(48.8%)	(54.0%) to (44.0%)	£56m	0%

The estimates for 2019 and 2020, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2019	(11.5%) to (1.5%)	(13.0%) to (3.0%)	£1,399m	73%
33	2020	(7.0%) to 3.0%	N/A	£1,698m	73%
6104	2019	(30.5%) to (20.5%)	(41.0%) to (32.0%)	£55m	0%
6104	2020	(28.5%) to (18.5%)	N/A	£44m	0%

ENDS

For further information

Investors and analysts

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

Marc Wetherhill, Group Company Secretary, Bermuda [phone]

Media

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

Tom Burns, Brunswick [phone]

Simone Selzer, Brunswick [phone]

Notes to editors

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.

About The Hiscox Group

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 .

 

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