Syndicates 33 and 6104 - results and estimates

RNS Number : 9289Q

Hiscox Ltd

25 February 2019

 

Syndicates 33 and 6104 - results and estimates

Hamilton, Bermuda (25 February 2019) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104's 2016 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2017 and 2018 accounts.

The results for 2016 expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Closing result	Previous estimate	Capacity	Hiscox share
33	2016	7.5%	(5.0%) to 5.0%	£999m	73%
6104	2016	28.9%	30.0% to 40.0%	£56m	0%

The estimates for 2017 and 2018, expressed as a percentage of capacity, are as follows:

Syndicate	Year of account	Current estimate	Previous estimate	Capacity	Hiscox share
33	2017	(10.0%) to 0.0%	(10.0%) to 0.0%	£1,147m	73%
33	2018	(10.0%) to 0.0%	N/A	£1,598m	73%
6104	2017	(35.0%) to (25.0%)	(40.0%) to (30.0%)	£54m	0%
6104	2018	(50.0%) to (40.0%)	N/A	£56m	0%

ENDS

For further information:
Hiscox Ltd
Marc Wetherhill, Group Company Secretary Kylie O'Connor, Head of Group Communications, London	[phone] [phone]
Brunswick
Tom Burns Simone Selzer	[phone] [phone]

Notes to editors:

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 3,300 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the US, 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, quality, courage and excellence in execution. 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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