Edition:
India

Hiscox Ltd (HSX.L)

HSX.L on London Stock Exchange

1,411.00GBp
15 Dec 2017
Change (% chg)

32.00 (+2.32%)
Prev Close
1,379.00
Open
1,383.00
Day's High
1,423.00
Day's Low
1,382.00
Volume
1,246,445
Avg. Vol
540,360
52-wk High
1,470.00
52-wk Low
978.00

Latest Key Developments (Source: Significant Developments)

Hiscox Ltd says 9-month ‍gross written premiums up by 12.4 pct to 2.09 bln pounds
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - HISCOX LTD :​:9-MONTH ‍GROSS WRITTEN PREMIUMS GREW BY 12.4% TO £2,088.8 MILLION​.‍CLAIMS ARISING FROM MEXICO EARTHQUAKES AND CALIFORNIA WILDFIRES ARE NOT EXPECTED TO BE MATERIAL FOR GROUP​.NOW ESTIMATE COMBINED NET CLAIMS FOR HURRICANES HARVEY, IRMA AND MARIA OF $225 MILLION AGAINST A ESTIMATE US$225 MILLION FOR HARVEY AND IRMA ​."‍WE ARE SEEING SIGNS OF A HARDENING MARKET​".IN LOSS-AFFECTED AND LOSS-EXPOSED US PROPERTY LINES BUSINESS WE ARE SEEING INCREASES OF BETWEEN 10% AND 50% AND SOMETIMES MORE​.‍FOR REINSURANCE, ANTICIPATE DOUBLE-DIGIT INCREASES IN RATES FOR US CATASTROPHE-EXPOSED BUSINESS AT IMPORTANT JANUARY RENEWALS​.‍NEW EUROPEAN INSURANCE COMPANY, HISCOX S.A., HAS BEEN FORMALLY INCORPORATED IN LUXEMBOURG WHERE WE HAVE STARTED TO BUILD A SMALL LOCAL TEAM​.‍SUBJECT TO FINAL REGULATORY APPROVAL, WE ARE ON TRACK TO START WRITING INTO NEW CARRIER IN LUXEMBOURG FROM Q2 2018​.DRAFT BILL SEEKS TO LEVY A 20% EXCISE TAX ON PAYMENTS MADE TO FOREIGN AFFILIATES WHICH COULD HAVE IMPACT ON INTERNAL REINSURANCE ARRANGEMENTS​.  Full Article

Hiscox to increase capacity to 1.6 bln stg amidst "widespread market turn"​
Wednesday, 11 Oct 2017 

Oct 11 (Reuters) - Hiscox Ltd :‍ENVISAGES A 2018 CAPACITY OF £1.6 BILLION FOR SYNDICATE 33, SUBJECT TO LLOYD'S APPROVAL​.‍THIS REPRESENTS AN INCREASE OF £450 MILLION FROM 2017​.‍INCREASE IN CAPACITY IS DRIVEN BY AN ANTICIPATED IMPROVEMENT IN MARKET.‍INCREASE IN CAPACITY IS DRIVEN BY DESIRE TO HAVE SUFFICIENT CAPACITY AVAILABLE TO PARTICIPATE IN A WIDESPREAD MARKET TURN​.HISCOX - ‍INCREASE FOLLOWS A PERIOD OF SIGNIFICANT CATASTROPHE ACTIVITY IN 2017 IN WHICH MORE THAN $100 BILLION OF INDUSTRY CAPITAL IS ESTIMATED DESTROYED​.  Full Article

Hiscox appoints Kate Markham as CEO for its London market business
Wednesday, 11 Oct 2017 

Oct 11 (Reuters) - Hiscox Ltd :APPOINTMENT OF KATE MARKHAM AS CEO FOR ITS LONDON MARKET BUSINESS, SUBJECT TO REGULATORY APPROVAL‍​.HISCOX - IT IS NEW POSITION WORKING CLOSELY WITH PAUL LAWRENCE, WHO REMAINS CUO OF HISCOX LONDON MARKET AND JOINT ACTIVE UNDERWRITER FOR SYNDICATE 33.HISCOX - KATE MARKHAM AND PAUL LAWRENCE WILL BE ON THE HISCOX LTD EXECUTIVE COMMITTEE.  Full Article

Hiscox Ltd issues update on Hurricanes Harvey and Irma
Monday, 2 Oct 2017 

Oct 2 (Reuters) - HISCOX LTD ::‍UNDERTAKEN A FIRST ESTIMATE OF COMBINED IMPACT OF HURRICANE HARVEY AND HURRICANE IRMA​.HISCOX ESTIMATES COMBINED NET CLAIMS OF APPROXIMATELY US$225 MILLION​.  Full Article

HISCOX estimates net claims of about $150 mln from hurricane Harvey
Monday, 18 Sep 2017 

Sept 18 (Reuters) - HISCOX LTD ::IMPACT OF HURRICANE HARVEY.‍BASED ON AN INSURED MARKET LOSS OF US$25 BILLION (EXCLUDING GOVERNMENT BACKED NATIONAL FLOOD INSURANCE PROGRAM), HISCOX ESTIMATES NET CLAIMS OF APPROXIMATELY US$150 MILLION​.‍THIS IS WITHIN GROUP'S MODELLED RANGE OF CLAIMS FOR AN EVENT OF THIS NATURE, AND REINSURANCE PROTECTIONS FOR GROUP REMAIN SUBSTANTIALLY INTACT​.‍HISCOX WILL ANNOUNCE AN ESTIMATE OF NET CLAIMS ARISING FROM HURRICANE IRMA, ONCE IMPACT OF THAT STORM HAS BECOME CLEARER​.‍HARVEY HAS ALSO HIGHLIGHTED LACK OF FLOOD COVER FOR LARGE PARTS OF US MARKET- CEO​.‍HISCOX HAS TWO PRINCIPAL AREAS OF EXPOSURE: THROUGH REINSURANCE BUSINESS AND THROUGH INSURANCE LINES, INCLUDING FLOOD COVER FOR HOMEOWNERS AND BUSINESSES​.‍2017 WILL BE AN EXPENSIVE YEAR FOR NATURAL CATASTROPHES BUT INDUSTRY CAN COPE-CEO​.  Full Article

Hiscox completes sale of HK division of Directasia
Wednesday, 31 Aug 2016 

Hiscox Ltd : Hiscox completes sale of HK division of Directasia . Hiscox group completes sale of Hong Kong division of Directasia to well link .Hiscox group now focusing future growth strategy of Directasia on Singapore and Thailand.  Full Article

Hiscox to decide on new EU-based insurance co by end of Q1-CEO
Monday, 25 Jul 2016 

Hiscox Ltd : "We haven't decided on anywhere yet, there are 10 countries where we could possibly set up" new EU-based insurance company - CEO . "We've begun a project and we'll decide by the end of Q1 next year what we're going to do" - CEO . "Given our prime minister Theresa May's caution on activating clause 50, we don't feel like we have to make a decision immediately" - CEO Further company coverage: [HSX.L].  Full Article

Hiscox says H1 pretax profit before currency 118.7 mln stg
Monday, 25 Jul 2016 

Hiscox Ltd : Hiscox retail continues to perform well, and was biggest contributor to profit in first half. . Hiscox london market grew by 9.7% in local currency, benefiting from new classes of business and expertise in niche areas. . Profit before tax excluding foreign exchange gain or loss £118.7 million (2015: £150.8 million). . Earnings per share were 70.4p (2015: 43.7p) and net tangible assets per share grew to 545.3p (2015: 462.8p). . Interim dividend up 6.3 percent to 8.5 penceper share . Hiscox usa delivered growth of 32.8% in local currency. . Board of hiscox ltd has declared an interim dividend for 2016 of 8.5p per share (2015: 8.0p) an increase of 6.3%. . There is a great deal of uncertainty about what is going to happen now uk has voted to leave european union. We are preparing for a range of outcomes .Ross written premium grew by 9.3% to £244.4 million (2015: £223.6 million)..  Full Article

Co-Operative Bank appoints Hiscox exec as CFO
Friday, 15 Jul 2016 

Co-Operative Bank Plc : Co-Operative Bank - appointment of CFO and confirmation of board director . Appointment of John Worth as chief financial officer and confirmation of a board director .Says John Baines will step down from board on Sept. 28 and leave bank on Oct. 1 2016.  Full Article

Hiscox Ltd announces appointment of group chief financial officer
Friday, 22 Apr 2016 

Hiscox Ltd:Says Hamayou Akbar Hussain will join the Hiscox Group as Group Chief Financial Officer.  Full Article

UPDATE 1-Underwriter Hiscox revises down hurricane claim estimates

Nov 7 Lloyd's of London underwriter Hiscox Ltd said it now estimates net claims for Hurricanes Harvey, Irma and Maria to total around $225 million, having previously estimated the same amount for Harvey and Irma alone.