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Hiscox Ltd (HSX.L)

HSX.L on London Stock Exchange

1,643.00GBp
20 Sep 2019
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-14.00 (-0.84%)
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Latest Key Developments (Source: Significant Developments)

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

Hiscox Sees 2019 Capacity Of 1.4 Bln Stg For Syndicate 33
Monday, 17 Sep 2018 

Sept 17 (Reuters) - Hiscox Ltd ::HISCOX LTD - HISCOX ENVISAGES A 2019 CAPACITY OF £1.4 BILLION FOR SYNDICATE 33 (2018: £1.6 BILLION), SUBJECT TO LLOYD'S APPROVAL.HISCOX LTD - DOES NOT EXPECT AMOUNT OF PREMIUM WRITTEN INTO SYNDICATE 33 TO DECREASE YEAR ON YEAR.  Full Article

UK's Hiscox H1 Pretax Profit $163.6 Mln Vs $129.1 Mln Year Ago
Monday, 30 Jul 2018 

July 30 (Reuters) - Hiscox Ltd ::H1 PRETAX PROFIT 163.6 MILLION USD VERSUS 129.1 MILLION USD YEAR AGO.ON TRACK TO EXCEED ONE MILLION RETAIL CUSTOMERS IN 2018.INTERIM DIVIDEND UP 5% TO 13.25 CENTS.HY PRE-TAX PROFIT $172.1 MILLION EXCLUDING FOREIGN EXCHANGE LOSSES (2017: $167.9 MILLION).HY GROSS WRITTEN PREMIUMS INCREASED BY 21.4% TO $2,228.8 MILLION.ANNUALISED RETURN ON EQUITY WAS 13.5% (2017: 11.2%) AT HY END.HY NET COMBINED RATIO WAS 87.9% (2017: 90.8%) OR 87.8% (2017: 89.7%) EXCLUDING FOREIGN EXCHANGE LOSSES.HY NET ASSETS PER SHARE REDUCED TO 853.1 CENTS (2017: 855.0 CENTS).HY NET PREMIUMS EARNED $1,277.9 MILLION VERSUS $1,178.3 MILLION.CONTINUE TO SEE STRONG DEMAND FOR ILS FUNDS AND NOW HAVE ASSETS UNDER MANAGEMENT OF $1.6 BILLION.SAYS "IT HAS BEEN A GOOD START TO YEAR, BUT HURRICANES CAN BLOW US OFF COURSE IN SECOND HALF".  Full Article

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

UPDATE 1-Insurer Hiscox posts higher profit as premiums rise

July 29 Insurer Hiscox posted a rise in first-half profit on Monday as it earned more from premiums and saw strong returns on investment, helping it overcome claims stemming from typhoons and hurricanes last year.