A strong close today for HSX - perhaps this is the next insurance company to fall to a foreign bid(s) ? |
Nothing underwhelming in Insurance terms in my view re risk and reward for Hiscox is a quality insurers and profile risks selection to higher degree than others in the same markets they were also have ability to release some reserves from prior year trading. This will have a positive impact going forward. It's not a difficult market for Insurance companies to make money and I wager that Hiscox would do a lot better than others now medium and long-term |
4*
Hiscox posted a decent if a little underwhelming set of Q3 numbers this morning and is currently extending its short term pullback by another 3%. Group insurance contract written premiums (ICWP) increased by $113.1 million or 3.0% to $3,872.5 million compared with the year prior period, Q3 2023. This was growth but only pretty modest growth and the performance lags that of other names in the insurance sector, for example Beazley’s 7% growth...from WealthOracle
wealthoracle.co.uk/detailed-result-full/HSX/954 |
Sad news... sounds like Jonathan Bloomer was on board Mike Lynch's yacht..... |
It's saying competitors have experienced increased claims (environment) whereas Hiscox have not seen this |
"This has delivered a strong and increased underwriting result of $241 million, despite a more active loss environment, and positions us well to deliver high-quality growth through the insurance cycle."I don't understand this line. Are there any insurance experts out there who can shed light on the comment for me? |
At 6.5 times forward P.E. Still looks cheap |
Many thanks |
Insurance Insider has the scoop this morning. https://www.insuranceinsider.com/article/2dgvx116em397q42ewjcw/london-market/hiscox-ownership-in-the-spotlight-as-suitors-circle?utm_source=twitter&utm_medium=social+media+organic&utm_term=%2B%2B%2Binsuranceinside&utm_content=14032317176&utm_campaign=ii_socialrss_2020-11-18&zephr_sso_ott=1H6WvJ |
and consistent with insurance industry insiders buying plus accelerating share repurchase programmes |
Can't find anything on my newsfeeds DFV but something must be going on |
Generali and Sompo both in play |
Hiscox to use AI for underwriting process in tie-up with Google |
https://www.ft.com/content/1b07e4bc-76f7-4627-bd3b-d9c8ba413182 |
Market rewards it with a 8% fall. |
Decent results |
Hiscox?
Has he more than one?? |
Hiscox posted Interims last week. Gross premiums written increased by 9.2% to $2,649.8 million. Premium growth and portfolio adjustments lead to a strong underwriting result of $123.2 million (H1 2021: $99.8 million), up 23.4% on the prior period. The ultimate Group loss from all risks in Ukraine and Russia, including aviation, is $48 million net of reinsurance. The Group remains conservatively reserved with an 11.0% margin above actuarial best estimate and is strongly capitalised with BSCR of 200%. Investment performance was weak due to market conditions with a loss of $214.1m in the HY period. Valuation is average, the share price lacks momentum. HSX is a solid mid-cap insurance name and certainly worth monitoring, but there is no compelling rush to buy....
...from WealthOracle |
HSX doesn't seem to have taken the hit that other insurers are taking. Further to fall? |
Thoughts on these results anyone? |
hTtps://www.itnews.com.au/news/insurers-run-from-ransomware-cover-as-losses-mount-572963Interesting read |
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