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Share Name Share Symbol Market Type Share ISIN Share Description
Hiscox Ltd LSE:HSX London Ordinary Share BMG4593F1389 ORD 6.5P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.40 -0.05% 830.00 829.60 830.20 833.40 826.20 833.40 540,040 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonlife Insurance 4,033.1 -268.5 -91.6 - 2,875

Hiscox Share Discussion Threads

Showing 276 to 298 of 400 messages
Chat Pages: 16  15  14  13  12  11  10  9  8  7  6  5  Older
DateSubjectAuthorDiscuss
01/5/2020
07:39
Hard to imagine that the FCA action won't go all the way to the Supreme Court. Too much at stake here on all sides. Except some volatility in the share price with each stage but I think it's negative overall for insurers. Uncertainty equals drop in share price.
goliard
01/5/2020
07:25
FCA statement on business interruption insurance Https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/14524803.html
effortless cool
29/4/2020
11:45
Elsa - they sort of hint at that, but yet again are deliberately being obscure. Are they really saying that they see a great opportunity and need new capital to take advantage... Of course not. They mix in the global uncertainty stuff too. These guys had such a good name but it really feels like they are destroying it with their position and announcements.
goliard
29/4/2020
11:16
some thoughts on it here: hTTps://cube.investments/cube-midcap-report-29-april-2020/
rndm355
29/4/2020
10:29
As I read it they are saying they want to raise capital to take advantage of a harder rate market (ie rising premiums), not to pay losses. Not a holder but watching.
elsa7878
29/4/2020
09:54
Hopefully soon as well , else drift down will likely continue. Not sure this has found a floor yet.
its the oxman
29/4/2020
08:50
Question: How does an insurer do a capital raise to cover liabilities that it says publically it does not have and refuses to estimate if it did? Answer: At a big discount.
goliard
29/4/2020
07:42
They say that they are looking at the possibility of a capital raise with no decision made. The market will interpret that as they are going to capital raise. Expect this one to plunge on opening imo.
our haven
27/4/2020
08:34
Hiscox, the insurance company that will doubtless have been used by many agents to insure their businesses, is facing legal action over its handling of ‘Business Interruption’ claims. Some 200 policyholders, are planning to take Hiscox Insurance to Court over rejected claims made due to coronavirus. Top legal firm, Mishcon de Reya has been appointed to take up the case. The group wants Hiscox to pay out on ‘Business Interruption’ claims for a policy that says it includes interruptions to business caused by infectious diseases. One of the Group members is reported as saying: “Hiscox thought it could get away without paying but that is not going to happen. We have appointed top legal counsel, we will be fully funded and we are going to force Hiscox to do the right thing and honour its obligations.” Simon Ager, managing director of the Pinnacle Climbing Centre and steering group member, described Hiscox’s behaviour as “disgraceful”. “The policy wording is clear and unambiguous, and the insurance has clearly been triggered,” he said. “In refusing to pay out in a shoddy attempt to preserve its own balance sheet, Hiscox is putting the future of hundreds of British businesses at risk.” EYE carried a story last week warning that insurers are not only removing cover associated with infectious diseases going forward, but also retrospectively. Https://propertyindustryeye.com/legal-action-threatened-over-non-payment-of-insurance-claims/
edmondj
24/4/2020
11:25
Best to avoid Hiscox for now, why fight it ?! there will come a time to buy, but not yet. "On Thursday, the Hiscox Action Group, a 200-strong group pursuing claims against the insurer, said that it had appointed law firm Mishcon de Reya to handle its claims, and was in talks with a litigation funder to finance legal action." https://www.ft.com/content/3257664a-1be2-4546-b6fa-f36618460301
2toptrader
24/4/2020
10:12
Surprised these havnt sold off more, who is going to touch these as insurers after this, big operators like Aviva and Axa on the whole dont offer business interruption unless its on a defined list, they actually list the diseases. I think this company is toast and will likely be made to pay even if they are forced into bankruptcy, they wrote policies that were not specific so are on the hook, plus the reputational fall out will be devastating.
porsche1945
22/4/2020
21:58
some comments on hiscox here: hTTps://cube.investments/cube-midcap-report-22-april-2020/
rndm355
22/4/2020
08:47
Good robust update
our haven
20/4/2020
16:53
Agreed. the fin implications may not be as bad as worst case scenario but the brand damage is probably irreparable in the short to medium term. I’d avoid.
danielinnes74
20/4/2020
10:36
Easy to see why Mr Gov would get involved: we helped with business rates, we pay for the staff and even give the businesses a small grant. Mr Insurer you have to chip in, no? But even if Mr Gov doesn't get involved, Hiscox will waste a lot of time and money in courts as they'll want to push settlement as far out as possible. On the other hand, if the BI cost is not as bad as feared,( they could argue that they only have to supplement the gov help), it could be a good buy. Tough one to call, so I'll pass.
2toptrader
19/4/2020
21:03
Sorry for shareholders but why would anyone deal with them now? Personal experience of them not wanting to quote when I thought I was low risk annoyed me.
semper vigilans
19/4/2020
17:11
And your right their brand is raking an absolute hammering
danielinnes74
19/4/2020
17:10
Plootocrat. On point 3 I’d comment that their RNS is very cleverly worded. In my opinion they are paying out on those claims they have absolutely no choice on (I.e where there is unquestionable affirmative cover) . They have no choice on these. The problem they have is the BI claims that they have declined that the clients (and their lawyers) believe should be covered. Their rns, in my opinion, deliberately avoids this. Have a butchers at the Raymond Blanc claim article in the press for added info. This is not an isolated incident and there are numerous such legal challenges.
danielinnes74
19/4/2020
09:57
"So, most visibly in America, a zero-sum existential battle is developing between businesses, most of them small or medium sized, and insurance companies." Https://www.ft.com/content/025a7f41-d05c-4fbd-afb0-825c50215b42
2toptrader
17/4/2020
10:48
A few points on this debate: 1. The BI wording on Hiscox's small business package looks to me like they are liable for covid related BI claims. If the wording is ambiguous the courts will find in favour of policyholders because of the current political climate and contra preferentum. 2. To make a BI claim the policyholder has to show they have suffered a loss and the extent of that loss - straightforward for a restaurant but less so for an office-based organisation whose staff have been able to work effectively from home. 3. Hiscox say their exposure to these BI risks is very limited (see RNS a couple of days ago) but the one thing I don't understand in all this is why if that is the case, they didn't seize the initiative and trumpet the fact that their cover is wider than the rest of the market and they are paying all legitimate claims as quickly as possible. I believe they are going to have to pay anyway so why not take advantage of the situation rather than suffer reputational damage as well as the financial hit. 4. Hiscox are a leading insurer of exhibitions (including cancellation thereof). It's entirely possible that losses here will outweigh those on the BI section of their SME policy but nobody seems to be talking about that. 5. I cannot see how the government can force any insurer to pay a claim which the contract of insurance does not cover without fundamentally undermining the principles of contract law and setting a precedent which they will almost certainly come to regret. If the government decide that covid related BI claims should all be paid then perhaps they should step-in and act as insurer of last resort themselves (though that would open a new can of worms about whether businesses who had not bought BI cover at all should be indemnified to the same extent as those who had etc etc).
plootocrat
17/4/2020
09:02
why is hiscox rallying exactly? this looks threatening https://uk.finance.yahoo.com/news/uk-insurers-face-legal-action-161957455.html
farrugia
16/4/2020
18:25
This wording does look damming, until you read it with the rest of the policy which makes it clear that it must be localised incidents.
chris79
16/4/2020
18:23
I think you're right the key is can /will they be bullied by the government? However in my view there is a huge jump from the totally unacceptable way the government has bullied banks and insurers to not pay dividends (but the money is still in the company) compared to the utterly outrageous potential bullying of a company to pay for x when they insured for y.
chris79
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