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Hiscox Ltd (HSX.L)

HSX.L on London Stock Exchange

1,529.00GBp
13 Jul 2018
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1,550.00
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1,208.00

Latest Key Developments (Source: Significant Developments)

Hiscox Says Q1 Gross Written Premiums Grew By 20.3%
Tuesday, 8 May 2018 

May 8 (Reuters) - Hiscox Ltd ::QTRLY GROSS WRITTEN PREMIUMS GREW BY 20.3% IN CONSTANT CURRENCY TO $1,155.8 MILLION.HISCOX LONDON MARKET AND HISCOX RE & ILS TOOK ADVANTAGE OF HARDENING MARKET AT IMPORTANT 1 JANUARY RENEWALS; HISCOX RETAIL CONTINUED ITS GOOD MOMENTUM."AFTER YEARS OF DETERIORATION IN BIG-TICKET LINES, Q1 SAW SOME CONTINUATION OF POSITIVE RATE MOVEMENT EXPERIENCED IN H2 2017"."IN LONDON MARKET, RATES HAVE IMPROVED MOST IN CATASTROPHE-EXPOSED BUSINESS, PARTICULARLY IN LOSS-AFFECTED LINES"."IN REINSURANCE, 2017 PRICE DECLINES HAVE ARRESTED AND POSITIVE MOMENTUM EXPERIENCED IN LEAD-UP TO 1 JANUARY RENEWALS HAS CONTINUED".LOOKING AHEAD TO FURTHER MID-YEAR RENEWALS IN JUNE AND JULY, SEE LITTLE PROSPECT OF RATE IMPROVEMENT DUE TO ABUNDANCE OF CAPACITY FROM TRADITIONAL AND ALTERNATIVE SOURCES.GROSS WRITTEN PREMIUMS IN LONDON MARKET BUSINESS GREW BY 8.7% IN CONSTANT CURRENCY TO $219.8 MILLION.  Full Article

Hiscox Says Information Security Incident At U.S. Law Firm Advising Co
Thursday, 12 Apr 2018 

April 12 (Reuters) - Hiscox Ltd ::LEARNED OF AN INFORMATION SECURITY INCIDENT AFFECTING A SPECIALIST LAW FIRM IN US THAT PROVIDED ADVICE TO HISCOX OR ITS POLICYHOLDERS.US SMALL BUSINESS ONLINE POLICY HOLDERS AND ALL NON-US POLICYHOLDERS ARE UNAFFECTED BY THIS INCIDENT.INCIDENT INVOLVED ILLEGAL ACCESS TO INFO STORED ON LAW FIRM'S SERVER; MAY INCLUDE INFO RELATING TO UP TO 1,500 OF CO'S US COMMERCIAL INSURANCE POLICYHOLDERS.LAW FIRM'S SYSTEMS ARE NOT CONNECTED TO HISCOX'S IT INFRASTRUCTURE AND HISCOX'S OWN SYSTEMS WERE UNAFFECTED BY INCIDENT.RETAINED A SECURITY FORENSIC FIRM TO ASSIST WITH INVESTIGATION AND ANALYSIS OF AFFECTED INFORMATION.HISCOX HAS ALSO TAKEN ADDITIONAL SECURITY MEASURES IN RELATION TO ITS OWN SYSTEMS.  Full Article

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

UPDATE 1-Underwriter Hiscox's premiums rise, London improves

May 8 Lloyd's of London underwriter Hiscox saw insurance rates in London improve in the first quarter and its overall gross written premiums rise 24 percent, helped by strong demand for flood and other property insurance.