Syndicates 33 and 6104 - estimates
Hamilton, Bermuda (29 July 2019) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the current estimates for Syndicate 33 and Syndicate 6104's 2017 and 2018 accounts.
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 |
(7.5%) to 2.5% |
(10.0%) to 0.0% |
£1,147m |
73% |
|
33 |
2018 |
(10.0%) to 0.0% |
(10.0%) to 0.0% |
£1,598m |
73% |
|
6104 |
2017 |
(40.0%) to (30.0%) |
(40.0%) to (30.0%) |
£54m |
0% |
|
6104 |
2018 |
(70.0%) to (60.0%) |
(60.0%) to (50.0%) |
£56m |
0% |
ENDS
|
For further information: |
|
|
|
|
|
Hiscox Ltd |
|
|
Marc Wetherhill, Group Company Secretary Kylie O'Connor, Head of Group Communications, London Ryan Thompson, Investor Relations Manager, London |
+1 441 278 8300 +44 (0) 20 7448 6656 +44 (0)20 7448 6522 |
|
Brunswick |
|
|
Tom Burns Simone Selzer
|
+44 (0) 20 7404 5959 +44 (0) 20 7404 5959 |
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. It's a long-standing strategy which in 2018 saw the business deliver a profit before tax of $137.4 million in a challenging year for insurers.
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
