Hiscox Ltd Syndicates 33 and 6104 - estimates (1626M)

TIDMHSX

RNS Number : 1626M

Hiscox Ltd

31 July 2017

Syndicates 33 and 6104 - estimates

Hamilton, Bermuda (31 July 2017) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the current estimates for Syndicate 33 and Syndicate 6104's 2015 and 2016 accounts.

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            5.0% to 15.0%       2.5% to 12.5%    GBP999m            73% 
----------  ----------------  -----------------  ------------------  ---------  ------------- 
    33            2016           (5.0%) to 5.0%      (5.0%) to 5.0%    GBP998m            73% 
----------  ----------------  -----------------  ------------------  ---------  ------------- 
   6104           2015           30.0% to 40.0%      25.0% to 35.0%     GBP65m             0% 
----------  ----------------  -----------------  ------------------  ---------  ------------- 
   6104           2016           10.0% to 20.0%       5.0% to 15.0%     GBP55m             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                                         [phone] 
 

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 2016 helped generate gross premiums written of GBP2,402.6 million and a record profit before tax of GBP354.5 million.

The Hiscox Group employs over 2,300 people in 13 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 and 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 company news service from the London Stock Exchange

END

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July 31, 2017 02:00 ET (06:00 GMT)