Announcement of share repurchase programme

Hiscox Ltd

25 February 2026

 

Announcement of share repurchase programme

Hamilton, Bermuda (25 February 2026) - Hiscox Ltd ("Hiscox" or the "Company") today announces it will commence a buyback of its ordinary shares of 6.5 pence each ("Ordinary Shares") for a maximum aggregate consideration of up to $300 million (the "Programme"), in order to return additional capital to shareholders. The Programme will commence today with an initial tranche of $150 million to be completed no later than the end of the third quarter of 2026. 

Hiscox has entered into a non-discretionary agreement with Peel Hunt LLP ("Peel Hunt") to conduct the initial tranche of the Programme with the Company subsequently purchasing its Ordinary Shares from Peel Hunt. Under this arrangement, Peel Hunt will act as principal and make trading decisions independently of Hiscox, except for Hiscox's ability to terminate Peel Hunt's mandate in certain limited circumstances.

The maximum aggregate consideration under the initial tranche is $150 million (excluding expenses). The Company intends to cancel such Ordinary Shares purchased. The sole purpose of the Programme is to reduce Hiscox's share capital.

Purchases under the Programme will take place in open market transactions and may be made from time to time by Peel Hunt, depending on market conditions, share price and trading volumes. The Programme will be effected under the authority granted by shareholders at the Company's 2025 Annual General Meeting held on 15 May 2025 (and any subsequent authority) and, as at the date of this announcement, the maximum number of shares that may be repurchased under the Programme is 20,776,059 Ordinary Shares. Any purchases contemplated by this announcement will be carried out on the London Stock Exchange and/or other recognised investment exchange(s). The Programme's initial tranche will end when the maximum aggregate consideration is equal to, or as close as possible to (but does not exceed), $150 million or as otherwise terminated.

The Programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 as it forms part of UK law pursuant to the UK's European Union (Withdrawal) Act 2018 and the Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as applicable laws and the regulations of the UK Financial Conduct Authority (including Chapter 9.6 of the UK Listing Rules). Any repurchase of shares will be announced no later than 7:30 a.m. on the business day following the calendar day on which the repurchase occurred.

There is no guarantee that the Programme will be implemented in full.  

The Company intends to enter into arrangements to commence a second tranche of the share buyback programme in due course.

Aki Hussain, Group Chief Executive Officer, Hiscox Ltd, commented:

"2025 was a pivotal year for Hiscox as we delivered another strong performance and made excellent progress in executing our growth and change strategy. In Hiscox Retail, we have achieved multi-year growth and margin expansion through new products, deeper distribution, the deployment of new technologies and execution of our change programme. Our retail markets present a large and attractive opportunity with a long runway of growth on which we are executing at pace. In big-ticket, our specialist expertise and technology capabilities have enabled us to launch new business initiatives, more than offsetting the dynamics of our cycle management actions. We are executing on our strategic agenda, and our commitment to underwriting excellence remains at the core.

Innovation across the Group is accelerating, with more product launches this year than over the previous five years, and employee engagement remains at an all-time high. Our change programme is firmly on track, building capabilities to improve service and productivity.

This strong performance and strategic execution enable us to reward shareholders, with the final dividend per share increasing by 20% for a second consecutive year and a third consecutive share buyback launched, taking the combination of shareholder returns through dividends and buybacks announced over the last three years to over $1.1 billion.

We are a leading pure-play specialty insurer with a diverse and balanced business, uniquely positioned to seize the opportunities in front of us and deliver value to our shareholders. We are firmly on track to deliver our strategic initiatives and the guidance set out at our Capital Markets Day in May 2025, and I want to thank all my colleagues for their continued hard work in driving Hiscox forward."

ENDS

For further information

Investors and analysts

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

Marc Wetherhill, Group Company Secretary, Bermuda [phone]

Media

Eleanor Orebi Gann, Chief Communications Officer, London [phone]

Simone Selzer, Brunswick [phone]

Notes to editors

About The Hiscox Group

Hiscox is a global specialty insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). With roots dating back to 1901, 2026 marks 125 years of Hiscox and we are proud of our long heritage in insuring specialist and complex risks. Our ambition is to continue to be amongst the world's most respected specialist insurers 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 13 countries, and has customers worldwide. Through the retail businesses in the USA, UK and Europe, we offer a range of specialist insurance products in commercial and personal lines. Internationally-traded, bigger-ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re.

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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