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Hiscox Ltd (HSX.L)

HSX.L on London Stock Exchange

820.28GBp
1:25pm IST
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14.28 (+1.77%)
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806.00
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Latest Key Developments (Source: Significant Developments)

Hiscox Says Reserved $232 Mln Net For Claims From COVID-19
Monday, 3 Aug 2020 

Aug 3 (Reuters) - Hiscox Ltd ::HISCOX - NO INTERIM DIVIDEND AS PREVIOUSLY ANNOUNCED..HISCOX - HAVE RESERVED $232 MILLION NET FOR CLAIMS FROM COVID-19.HISCOX - HY GROSS PREMIUMS WRITTEN $2,235.5M VERSUS $2,337.5M.HISCOX - HY NET PREMIUMS EARNED $1,328.2M VERSUS $1,313.8M.HISCOX - HY GROUP COMBINED RATIO 114.6% VERSUS 98.8%.HISCOX - IN RETAIL, WE EXPECT GROWTH TO CONTINUE AS OUR DIGITAL PLATFORMS DELIVER EFFICIENCIES AND NEW CUSTOMERS..  Full Article

Hiscox Says There Is No Change To Guidance Provided In Q1 Trading Statement
Monday, 1 Jun 2020 

June 1 (Reuters) - Hiscox Ltd ::HISCOX LTD - HISCOX LTD RESPONSE TO FCA ANNOUNCEMENT.HISCOX LTD - WELCOMES TODAY'S ANNOUNCEMENT FROM FINANCIAL CONDUCT AUTHORITY IN UK REGARDING PROPOSED LEGAL TEST CASE.HISCOX LTD - HISCOX IS ACTIVELY SETTLING CLAIMS FOR EVENT CANCELLATION AND ABANDONMENT.HISCOX LTD - HAS AGREED TO ASSIST FCA BY PARTICIPATING ALONGSIDE OTHER INSURERS IN TEST CASE IN ORDER TO PROVIDE CERTAINTY FOR BUSINESSES AND BROKERS.HISCOX LTD - THERE IS NO CHANGE TO ANY OF ESTIMATES OR GUIDANCE PROVIDED IN Q1 TRADING STATEMENT ON 5 MAY.HISCOX LTD - GROUP'S CAPITAL POSITION REMAINS ROBUST..HISCOX LTD - NO CHANGE TO ANY OF ESTIMATES OR GUIDANCE PROVIDED IN Q1 TRADING UPDATE.  Full Article

Hiscox Says Qtrly Gross Written Premiums Grew By 2% In Constant Currency To $1,181.8 Mln
Tuesday, 5 May 2020 

May 5 (Reuters) - Hiscox Ltd ::HISCOX LTD TRADING STATEMENT.QTRLY GROSS WRITTEN PREMIUMS GREW BY 2% IN CONSTANT CURRENCY TO $1,181.8 MILLION (2019: $1,164.7 MILLION).HAVE NO MATERIAL EXPOSURE TO LINES SUCH AS TRADE CREDIT INSURANCE WHICH ARE HEAVILY IMPACTED BY COVID-19..UNABLE TO ACCURATELY FORECAST OUTLOOK FOR 2020.HAVE WITHDRAWN ALL FINANCIAL GUIDANCE FOR 2020 UNTIL THERE IS MORE CLARITY..REMAIN CONFIDENT IN OUR ABILITY TO RETURN TO OUR NORMAL 90-95% COMBINED RATIO TARGET RANGE FOR RETAIL BUSINESS IN 2022.IN Q1, HISCOX HAS SEEN CONTINUED GROWTH IN RETAIL AND LONDON MARKET DIVISIONS. HISCOX RE & ILS REMAINED CAUTIOUS.HISCOX LONDON MARKET IS EXPECTED TO CONTINUE TO HARDEN, DRIVEN BY FURTHER CAPITAL CONTRACTION DUE TO UNCERTAINTY FROM COVID-19..IN APRIL, HISCOX RETAIL EXPERIENCED A REDUCTION IN NEW BUSINESS, RESULTING IN A MODERATE SLOWDOWN IN PREMIUM GROWTH.EXCLUDING IMPACT OF COVID-19, CLAIMS FOR HISCOX RETAIL WERE IN LINE WITH EXPECTATIONS IN Q1.WE WELCOME POSITIVE STEPS BY FCA TO RESOLVE DISPUTES IN INDUSTRY OVER APPLICATION OF PROPERTY POLICIES RELATING TO BUSINESS INTERRUPTION.  Full Article

Hiscox Announces Proposed Capital Raise Of Ordinary Shares
Tuesday, 5 May 2020 

May 5 (Reuters) - Hiscox Ltd ::HISCOX LTD - PROPOSED CAPITAL RAISE OF ORDINARY SHARES.HISCOX - ANNOUNCES ITS INTENTION TO CONDUCT A NON-PRE-EMPTIVE PLACING OF NEW ORDINARY SHARES OF 6.5 PENCE EACH ( "PLACING SHARES") IN CAPITAL OF CO.HISCOX LTD - IN ADDITION, IN CONJUNCTION WITH PLACING, CERTAIN DIRECTORS AND MEMBERS OF SENIOR MANAGEMENT INTEND TO SUBSCRIBE FOR NEW ORDINARY SHARES.HISCOX LTD - TOTAL NUMBER OF PLACING SHARES AND SUBSCRIPTION SHARES WILL NOT EXCEED 19.99 PER CENT.HISCOX LTD - PLACING WILL BE CONDUCTED THROUGH AN ACCELERATED BOOKBUILDING PROCESS.HISCOX LTD - BELIEVES THAT ITS CAPITAL, LIQUIDITY AND FUNDING POSITIONS REMAIN ROBUST.  Full Article

Aon Says Insured Losses From Natural Disasters In 2019 Reached $71 Bln
Wednesday, 22 Jan 2020 

Jan 22 (Reuters) - Aon::AON - INSURED LOSSES FROM NATURAL DISASTERS IN 2019 REACHED $71 BILLION VERSUS $100 BILLION IN 2018, TYPHOONS HAGIBIS AND FAXAI IN JAPAN WERE COSTLIEST EVENTS.  Full Article

Hiscox Has Reserved $165 Mln For Claims From Hurricane Dorian And Typhoons Faxai And Hagibis
Monday, 4 Nov 2019 

Nov 4 (Reuters) - Hiscox Ltd ::HISCOX LTD - HISCOX LTD Q3 TRADING STATEMENT.HISCOX LTD - GROSS WRITTEN PREMIUMS GREW BY 7.3% IN CONSTANT CURRENCY TO $3,212.6 MILLION WITH GROWTH IN EVERY SEGMENT IN FIRST 9 MONTHS.HISCOX LTD - Q3 HAS BEEN AN ACTIVE PERIOD FOR CLAIMS, WITH MARKET EXPERIENCING SIGNIFICANT CATASTROPHE LOSSES FROM STORMS IN US, CARIBBEAN AND JAPAN.HISCOX LTD - HAVE RESERVED $165 MILLION FOR CLAIMS FROM HURRICANE DORIAN AND TYPHOONS FAXAI AND HAGIBIS.HISCOX LTD - EXPECT AN ADDITIONAL IMPACT FROM LOWER FEES AND PROFIT COMMISSIONS.HISCOX LTD - WE ARE ON TRACK TO MEET OUR FULL YEAR GROWTH GUIDANCE FOR RETAIL SEGMENT.HISCOX LTD - PRICING MOMENTUM IN LONDON MARKET AND REINSURANCE CONTINUES TO BE POSITIVE.HISCOX LTD - IN HISCOX RETAIL, RATES IN UK AND EUROPE REMAIN BROADLY FLAT ACROSS PORTFOLIO.HISCOX LTD - IN US, THERE ARE EARLY SIGNS THAT MARKET IS RESPONDING TO ADVERSE CLAIMS TRENDS IN CASUALTY BUSINESS.HISCOX LTD - IS EXPOSED TO RECENT WILDFIRES IN CALIFORNIA, HOWEVER AT THIS EARLY STAGE SIZE OF ANY POTENTIAL LOSS IS NOT YET CLEAR.HISCOX LTD - EXPECTS FULL YEAR COMBINED RATIO FOR HISCOX RETAIL TO BE BETWEEN 97-99%.HISCOX LTD - CONTINUES TO TARGET A COMBINED RATIO RANGE FOR HISCOX RETAIL BETWEEN 90-95% OVER MEDIUM TERM.  Full Article

Hurricane Dorian Could Cost Insurers $25 Bln- UBS
Monday, 2 Sep 2019 

Sept 2 (Reuters) - UBS::UBS INCREASES BASE CASE INDUSTRY INSURED LOSS FOR HURRICANE DORIAN TO $25BN FROM $15BN, ADDS SOLVENCY II SENSITIVITIES.UBS SAYS SWISS RE LEAST PREFERRED IN TERMS OF EXPOSURE TO INSURED LOSS FROM HURRICANE DORIAN, SEES ITS SECOND BUY-BACK AS UNLIKELY.  Full Article

Hiscox Ltd Says H1 Pretax Profit Up 3% To $168 Million
Monday, 29 Jul 2019 

July 29 (Reuters) - Hiscox Ltd ::HISCOX LTD -H1 GROSS PREMIUMS WRITTEN UP 7% IN CONSTANT CURRENCY, WITH ALL BUSINESS SEGMENTS GROWING.HISCOX LTD - H1 PROFIT BEFORE TAX UP 3% TO $168 MILLION, DRIVEN BY A GOOD INVESTMENT RETURN OF 4.8% ANNUALISED.HISCOX LTD - INTERIM DIVIDEND UP 4% TO 13.75¢.HISCOX LTD - EXPERIENCED A HIGHER VOLUME OF CLAIMS IN FIRST HALF OF 2019 THAN SAME PERIOD LAST YEAR.HISCOX - RESERVES HAVE BEEN STRENGTHENED FOR PRIOR-YEAR CLAIMS FROM TYPHOON JEBI, HURRICANE MICHAEL AND RISK EXCESS BOOK.HISCOX LTD - HISCOX RE AND HISCOX LONDON MARKET ARE CAPITALISING ON OPPORTUNITIES AS THEY ARISE, AS PRICING MOMENTUM CONTINUES TO BUILD.HISCOX LTD - HY GROUP COMBINED RATIO 98.8% VERSUS 87.9%.HISCOX LTD - HY NET PREMIUMS EARNED $1,313.8M VERSUS $1,277.9M.  Full Article

Hiscox Sees HY Pretax Profit Of $150-$170 Mln
Friday, 12 Jul 2019 

July 12 (Reuters) - Hiscox Ltd ::TRADING UPDATE.EXPECTS TO DELIVER A PROFIT BEFORE TAX FOR SIX MONTHS ENDED 30 JUNE 2019 IN RANGE OF $150 MILLION TO $170 MILLION.ALSO EXPECTS HISCOX RETAIL'S COMBINED RATIO TO BE WITHIN NORMAL RANGE OF 90-95% AT HALF YEAR.GROUP EXPECTS GROWTH FOR HISCOX RETAIL TO TREND TOWARDS MID-POINT OF NORMAL 5-15% TARGET RANGE IN SECOND HALF.INSURANCE MARKET HAS SEEN CONTINUED DETERIORATION FROM 2018 CAT EVENTS, INCLUDING TYPHOON JEBI IN JAPAN AND HURRICANE MICHAEL IN FLORIDA.HAS STRENGTHENED RESERVES FOR PRIOR YEAR CLAIMS FROM TYPHOON JEBI, HURRICANE MICHAEL AND FOR RISK EXCESS BOOK.COMBINED IMPACT OF RESERVE STRENGTHENING FOR NAT CAT EVENTS IS APPROXIMATELY $40 MILLION NET.GROUP EXPECTS RESERVE RELEASES IN FIRST HALF TO BE MATERIALLY LOWER THAN LAST YEAR.CONDITIONS ARE IMPROVING WITH GOOD RATE MOMENTUM FOR MOST LINES IN HISCOX LONDON MARKET.EXPECTS TO MAKE AN ADDITIONAL TAX PROVISION OF UP TO $60 MILLION FOR HALF YEAR.DOES NOT ANTICIPATE ANY IMPACT ON INTERIM OR FINAL DIVIDEND.  Full Article

Capital Group Companies Discloses 5.0658 Pct Stake In Hiscox - Filing
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - Hiscox Ltd ::CAPITAL GROUP COMPANIES, INC DISCLOSES 5.0658 PERCENT STAKE IN HISCOX LTD - FILING.  Full Article

BRIEF-Hiscox Says There Is No Change To Guidance Provided In Q1 Trading Statement

* HISCOX LTD - WELCOMES TODAY'S ANNOUNCEMENT FROM FINANCIAL CONDUCT AUTHORITY IN UK REGARDING PROPOSED LEGAL TEST CASE