Hiscox Share Discussion Threads

[jayno] 07/11/2002 00:46

I hope so Swing, because I have joined you!

The price is refusing to go down in spite of large sells. This could mean it's being held while someone offloads (!!) or it could mean shorter attempts aren't working. Who knows? But something's happening and I fancy the graph, like you.

Jayno

[captain swing] 06/11/2002 10:28

I thought it would move, ahead of AML for example, because of the MACD crossover. Anyway, have jumped in at 128. Looks good so far; have I got something right at last?

[captain swing] 05/11/2002 08:14

The chart looks like a range traders dream, but... (see previous)

[captain swing] 04/11/2002 11:55

I am new to this sector, but I get the impression there is a game going on to push HSX below the 120p rights price, or perhaps to soak up some shares from the market at around that price. Views anyone?

[tracter boy] 24/9/2002 19:24

Hiscox PLC
24 September 2002


PROPOSED RIGHTS ISSUE

The Board of Hiscox plc ('Hiscox' or the 'Company') notes the announcement made
earlier this afternoon by The Chubb Corporation that its wholly owned subsidiary
Chubb Investment Services Limited intends, in respect of its holding of
54,529,566 Hiscox ordinary shares (representing approximately 28.3% of the
existing issued share capital), to vote against resolutions to enable the
proposed Hiscox rights issue to proceed.


The Company was informed by its Registrars that, as at 11 am on 24 September
2002, being the latest time and date by which valid proxy forms had to be
returned to the Company's Registrars, the following votes had been received:

For Against Discretionary

Resolution 1 97,360,361 54,533,448 12,997

Resolution 2 97,335,541 54,533,968 37,297

Resolution 1 is to increase the authorised share capital in the Company and
resolution 2 authorises the Board to allot the rights issue shares. The
resolutions are ordinary resolutions requiring a simple majority of those who
vote.


The Company has a total of 192,701,369 ordinary shares in issue. Accordingly
votes in favour amount to over 50% of the shares in issue and over 64% of those
who have voted. The Extraordinary General Meeting of the Company will be held at
Hiscox's offices, 1 Great St Helen's, London, EC3A 6HX at 11 am on 26 September
2002.


Chubb Investment Services Limited has not made any advance commitment in respect
of its entitlement to take up shares under the Rights Issue.

ENQUIRIES:
Hiscox plc Bronek Masojada 020 7448 6000

Stuart Bridges
ING Barings Ben Money-Coutts 020 7767 5700
NM Rothschild Philip Swatman 020 7280 5000

Jonathan Eddis
The Maitland Consultancy Suzanne Bartch 020 7379 5151



ING Barings and NM Rothschild are acting for the Company, and no one else, in
connection with the Rights Issue and will not be responsible to any other person
for providing the protections afforded to their respective clients or for
providing advice in relation to the proposed Rights Issue.


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

Maybe, at long last, the bid is on its way.....

[willo] 16/8/2002 14:39

What will the effect of the European floods be on these?

[mr ashley james] 17/7/2002 14:29

Money Loser,

HSX up another 3p today.

Glad to see Lloyd's plays starting to move at last.

Best regards

Ashley

[mr ashley james] 09/7/2002 08:36

Andrew,

Good on Robert Hiscox, shareprice already up 3p or 2.10% this am.

Best regards

Ashley

[andrew.shaw] 04/7/2002 09:43

Ratty and Ashley James
I do not suppose that either of you have missed the fact that Robert Hiscox has been filling his boots with these shares over the last week!
Planning a little further purchase for myself this morning.

[mr ashley james] 04/7/2002 08:21

Ratty,

I did not realise HSX Syndicate 33 was a smaller capacity player than WUN Syndicate 2020 at only £655m premium capacity 2002! I calculate that HSX at £272.62m m/c works out at 41.62p per £1.00 of Syndicate 33 premium capacity, not a bad sector valuation IMHO!

RNS Number:1463Y
Hiscox PLC
4 July 2002


HISCOX PLC

SYNDICATE 33 CAPACITY INCREASE

HIGHLIGHTS

• 2002 capacity of Syndicate 33 increased by £151m through qualifying quota
share ("QQS") reinsurance, from £504m to £655m

• 2003 capacity for Syndicate 33 planned at £850m (2002: £655m) including
QQS reinsurance


CAPACITY 2002

Trading conditions for Hiscox plc's Lloyd's business through Syndicate 33 remain
very strong. Syndicate 33's 12 month rolling average pricing index shows rates
having doubled in the last year for the London Market division's business,
matching the doubling which the Syndicate's Reinsurance division showed at
Hiscox plc's 2001 annual results.


In order to take further advantage of these conditions, Hiscox has secured a
qualifying quota share ("QQS") reinsurance arrangement for £151m to increase the
capacity of Syndicate 33 for 2002 from £504m to £655m. The QQS is placed 57%
with AA rated reinsurers and 43% with single A rated reinsurers. A leading and
substantial line has been placed with Chubb Re.


CAPACITY 2003

Hiscox believes that the excellent trading conditions of the current market will
continue into 2003, and has sought consent from Lloyd's and capital providers to
pre-empt Syndicate 33's capacity in 2003. This pre-emption would increase the
Syndicate's capacity from £504m (£655m with the QQS described above) in 2002 to
£706m in 2003. The Syndicate's capacity in 2003 may be further increased by QQS
arrangements, taking the likely final capacity to approximately £850m.


FOR FURTHER INFORMATION:

Robert Hiscox, Chairman Hiscox plc 020 7448 6011

Bronek Masojada, Chief Executive Hiscox plc 020 7448 6012

Suzanne Bartch The Maitland Consultancy 020 7379 5151


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

[mr ashley james] 04/7/2002 08:10

Ratty,

HSX up 4p this am, bodes well for ILV's today!

BTW I hear Jo Wellman is leaving BRE!

Is the BRE promotion over?

Best regards

Ashley

[king rat] 10/12/2001 13:49

andrew.shaw

The following table shows NTA as a %of share price. NTA is based on Numis's estimates following the WTC disaster (Cox and BRIT further reduced by me to reflect WTC reserve increases post the Numis note).

Amlin 62%
Atrium 79%
BRIT 93%
Chaucer 79%
Cox 19%
GoshawK 69%
Hardy 66%
Hiscox 41%
Kiln 69%
Ockham 98%
SVB 148%
Wellington 45%

Yes, you can make a case for Hiscox having above average management, but that is already reflected to some extent in the price. Also, a lot of their business comes from the unexciting retail insurance sector.

Of the above, I like BRIT best. In my opinion, it offers the best combination of prospects and value.

Regards.

King Rat

[andrew.shaw] 04/12/2001 19:16

EPIC Stock Name
AML AMLIN
AUW ATRIUM UNDERW.
BRE BRIT INS HLDGS Continues to suffer class worries
CHU CHAUCER HLDGS Continues to fall out of bed, and is wasting away
COX COX INSURANCE Makes me nervous
GOS GOSHAWK INS.HDS
HDU HARDY UNDERWTG. Looks to be fully priced
HSX HISCOX
KIN KILN The once mighty Kiln has lost its way
OCK OCKHAM HLDGS. Worth a look in light of premium hikes.Can it maintain its book of business?
SVB SVB HLDGS.
WUN WELLINGTON UNW. Class worries

I liked the explanation from CEO regarding the speed that they would be able to recoup their WTC related losses in the hardening market.
Hisox has a tremendous tradition of profitability, from the old Roberts and Hiscox days.
Messers Foster, Thomson and Hiscox are not likely to let this business slip away from them.
Of the above, they are, with the exception of Hardy, the only ones that inspire confidence.
I think the value/potential balance is sound.
I think this whole sector is under exposed. No one really undertsands what Lloyds is about, and how these companies work. The sooner they rid themselves of the highly expensive individual names, there should be a lot more interest and understanding.

[king rat] 04/12/2001 17:24

Hiscox is valued relatively highly compared to its NTA. There's better value elsewhere in the sector.

Regards.

King Rat

[andrew.shaw] 04/12/2001 17:06

I believe that the Chubb are still sniffing around the heal's of this company.
It has very tight and focused management.
Their response, and the share price response to the over selling post 11th Sept shows it is a very robust organisation.
I would expect an offer in the £2.50 region to hit the headlines before too long.
If you were wise enough to spot this bargain at £0.70 in September, you will already be whooping with joy, if you are still to buy, there is plenty room for improvement.
imho dyor

[arichard] 25/9/2001 09:25

OK guys - this one has fallen through the floor with the recent WTC happenings. Today's results look reasonable and the 20mill loss from WTC is now out in the open. Marked up on virtually no volume this morning.

Any takers pre tomorrow's coverage of the results?

[bezzaberry] 25/4/2001 17:48

Is there a better performing share than this around, its certainly the jewel in my portfolio

[arichard] 30/3/2001 09:17

Well marked up this morning on minimal trade - any news?

[arichard] 26/1/2001 15:59

A bid looks likely - I've heard around the 250 marker. Having said that, the announcement from Chubb (the 28% shareholder) is of more the 170 marker.

Likely to be trying to talk the market down IMO - the bid is probably coming at a small premium to the 200p current price.

EDIT
Small premium it was - 210p. No more though..
LONDON (AFX) - Hiscox PLC said it has ended takeover talks with Chubb Corp
after the U.S. financial giant's indicative offer fell well short of
management's valuation of the Lloyds insurer.
Chubb table 210 pence a share for Hiscox which would have valued it at 310
mln stg.
However, analysts told AFX News last week that the UK group was probably
worth closer to 300 pence a share.
Hiscox said it will continue with its plans to become a "major specialist
insurer".
The group has branched out from its traditional Lloyds of London base to
become a niche player. For instance, it is one of the UK's leading art insurers.
"We remain convinced that significant value for its shareholders will be
built by the continued pursuit of Hiscox's successful strategy," Hiscox said.
Chubb holds 27.72 pct of the company and Hiscox said expects to continue
its "constructive relationship" with the U.S. group.
At 3.40 pm, Hiscox was 171 pence, down 32-1/2 pence, or 16 pct on the news.

[lloyds] 25/1/2001 13:35

Hiscox could go or not-the unsubstantiated rumour is that the management dont
really want it but !

Unrelated insurance stocks suggest you look into the HISCOX Portfolio fund which will save you a lot of trouble.

SVB is a good one as is BRIT-look at the charts.

Basically the sector is on a positive roll now after years of underpricing.It will be slow unless consolidation occurs(see Allianz)but steady progress in this area and yes there is money to be made for the patient and well informed investor.
Bermuda Insurers are also doing well see ACE and X/L.

[harleymaxwell] 23/1/2001 23:00

any views on the other lloyds agencies that ticked up today on this news??

[money loser] 23/1/2001 13:53

Takeover talk

Extracted from prices and news section of Sharepeople...

"The paper also suggested a 300p per share bid for the Lloyd's integrated insurance vehicle Hiscox was being prepared. Hiscox stock put on 11%, or 16p, to trade at 160p on the rumours."

Would welcome views on this one?