Hiscox Ltd Syndicates 33 and 6104 - results and estimates (7978X)

TIDMHSX

RNS Number : 7978X

Hiscox Ltd

27 February 2017

Syndicates 33 and 6104 - results and estimates

Hamilton, Bermuda (27 February 2017) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104's 2014 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104's 2015 and 2016 accounts.

The results for 2014 expressed as a percentage of capacity, are as follows:

 
 Syndicate   Year of account   Closing result   Previous estimate   Capacity    Hiscox share 
----------  ----------------  ---------------  ------------------  ----------  ------------- 
    33            2014                  17.0%       5.0% to 15.0%   GBP1,000m            73% 
----------  ----------------  ---------------  ------------------  ----------  ------------- 
   6104           2014                  36.1%      30.0% to 40.0%      GBP72m             0% 
----------  ----------------  ---------------  ------------------  ----------  ------------- 
 

The estimates for 2015 and 2016, expressed as a percentage of capacity, are as follows:

 
 Syndicate   Year of account   Current estimate   Previous estimate   Capacity    Hiscox share 
----------  ----------------  -----------------  ------------------  ----------  ------------- 
    33            2015            0.0% to 10.0%       0.0% to 10.0%     GBP999m            73% 
----------  ----------------  -----------------  ------------------  ----------  ------------- 
    33            2016           (5.0%) to 5.0%                 N/A   GBP1,000m            73% 
----------  ----------------  -----------------  ------------------  ----------  ------------- 
   6104           2015           25.0% to 35.0%      25.0% to 35.0%      GBP65m             0% 
----------  ----------------  -----------------  ------------------  ----------  ------------- 
   6104           2016            5.0% to 15.0%                 N/A      GBP56m             0% 
----------  ----------------  -----------------  ------------------  ----------  ------------- 
 

ENDS

 
 For further information: 
 
 Hiscox Ltd 
 Jeremy Pinchin, Group Company Secretary 
  Kylie O'Connor, Head of Group Communications,    [phone] 
  London                                            [phone] 
 
 Brunswick 
 Tom Burns                                         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, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting divisions in the Group - Hiscox Retail (which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia), Hiscox London Market and Hiscox Re. Through its retail businesses in the UK, Europe and the US Hiscox offers a range of specialist insurance for professionals and business customers, as well as homeowners. Hiscox underwrites internationally traded, bigger ticket business and reinsurance through Hiscox London Market and Hiscox Re.

For further information, visit www.hiscoxgroup.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 27, 2017 02:00 ET (07:00 GMT)