Syndicate Results

RNS Number : 1190Y
Hiscox Ltd
27 February 2012
 



 

Syndicates 33 and 6104 - results and estimates

 

Hamilton, Bermuda (27 February 2012) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces its final results for Syndicate 33 and Syndicate 6104's 2009 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2010 and 2011 accounts.

 

The results for 2009, expressed as a percentage of capacity, are as follows:

 

Syndicate

Year of account

Final Result

Previous estimate

Capacity

Hiscox share

33

2009

31.6%

22.5% to 30.0%

£750m

73%

6104

2009

64.7%

55.0% to 65.0%

£43m

0%

 

The estimates for 2010 and 2011, expressed as a percentage of capacity, are as follows:

 

Syndicate

Year of account

Current estimate

Previous estimate

Capacity

Hiscox share

33

2010

-5.0% to 5.0%

-10.0% to 0.0%

£1,000m

73%

33

2011

-12.5% to 2.5%

N/A

£900m

73%

6104

2010

-5.0% to 10.0%

-10.0% to 10.0%

£45m

0%

6104

2011

-10.0% to 10.0%

N/A

£37m

0%

 

 

ENDS

 

 

For further information:

 

Hiscox Ltd

 

Charles Dupplin, Group Company Secretary                                             +1 441 278 8300

 

Kylie O'Connor, Head of Group Communications, London                          +44 (0) 20 7448 6656

 

 

Brunswick                                                                                            +44 (0) 20 7404 5959

 

Tom Burns

 

Notes to editors:

 

1. The Syndicates' results 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.

 

For further information, visit www.hiscox.com.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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