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Hiscox Ltd (HSX.L)

HSX.L on London Stock Exchange

1,391.00GBp
21 Feb 2018
Change (% chg)

15.00 (+1.09%)
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Latest Key Developments (Source: Significant Developments)

Hiscox Says two senior appointments
Thursday, 8 Feb 2018 04:00am EST 

Feb 8 (Reuters) - Hiscox Ltd ::STEVE LANGAN, CEO OF HISCOX UK & EUROPE, WILL RELOCATE TO NEW YORK TO TAKE UP ROLE OF CEO HISCOX USA, EFFECTIVE FROM 1 JULY 2018.‍BEN WALTER, CEO OF HISCOX USA, WILL RELOCATE TO LONDON TO TAKE UP NEWLY CREATED ROLE OF CEO HISCOX GLOBAL RETAIL, WITH EFFECT FROM 1 JULY 2018​.BEN AND STEVE WILL REMAIN ON EXECUTIVE COMMITTEE AND HISCOX WILL BEGIN PROCESS OF RECRUITING A NEW UK & IRELAND CEO IN AUTUMN.  Full Article

Hiscox Ltd says 9-month ‍gross written premiums up by 12.4 pct to 2.09 bln pounds
Tuesday, 7 Nov 2017 02:01am EST 

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 05:29am EDT 

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 03:35am EDT 

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 appoints Tom Shewry as director of group finance
Wednesday, 20 Sep 2017 04:04am EDT 

Sept 20 (Reuters) - HISCOX LTD ::SAYS APPOINTMENT OF TOM SHEWRY TO ROLE OF DIRECTOR OF GROUP FINANCE.  Full Article

Hiscox sees rise in U.S. property insurance rates after Harvey, Irma
Tuesday, 12 Sep 2017 07:21am EDT 

Sept 12 (Reuters) - Hiscox Ltd ::CEO- COSTS FOR HARVEY ARE HOPPING AROUND $20-30 BILLION AND IRMA BETWEEN $30-40 BILLION, MAKING THEM VERY BIG HURRICANES.CEO- IT HAS BEEN A VERY EXPENSIVE YEAR FOR NATURAL CATASTROPHES AND CLEARLY WE ARE NOT YET FINISHED WITH THE HURRICANE SEASON.CEO- (HURRICANES) WILL DEFINITELY HAVE THE IMPACT OF ELIMINATING PRICE REDUCTIONS, LOSS-AFFECTED AREAS WILL SEE PRICE RISES.CEO- BIGGER TICKET PROPERTY AREA WILL SEE PRICE RISES BECAUSE THAT WAS A VERY UNDER-PRICED AREA BEFORE HAND.  Full Article

Hiscox reports HY PBT of 102.6 mln stg
Monday, 31 Jul 2017 02:01am EDT 

July 31 (Reuters) - HISCOX LTD ::INTERIM DIVIDEND 9.5 PENCEPER SHARE.PROFITS BEFORE TAX UP 12.5 PCT EXCLUDING IMPACT OF FOREIGN EXCHANGE.HY ‍GROSS PREMIUMS WRITTEN 1,459.6 MLN STG VERSUS 1,288.5 MILLION​ STG.HY ‍NET PREMIUMS EARNED 936.6 MILLION STG VERSUS 767.5 MILLION STG​.HY ‍PROFIT BEFORE TAX 102.6 MILLION STG VERSUS 206.0 MILLION​ STG.HY ‍EARNINGS PER SHARE 34.9P​.SAYS ‍INTERIM DIVIDEND PER SHARE 9.5P​.LOOK FORWARD WITH CAUTION TO SECOND HALF OF YEAR AS HURRICANE SEASON APPROACHES.HY ‍NET ASSET VALUE PER SHARE 657.7P​.HY ‍GROUP COMBINED RATIO 91.0 PCT VERSUS 80.7 PCT​.HY ‍RETURN ON EQUITY (ANNUALISED) 11.1 CPT VERSUS 28.3 PCT​.  Full Article

Lloyd's of London appoints Robert Childs as deputy chairman
Monday, 3 Jul 2017 05:19am EDT 

July 3 (Reuters) - Lloyd's Of London Ltd [RIC:RIC:SOLYD.UL]:Robert Childs, non-executive chairman of Hiscox, has been appointed deputy chairman of Lloyd's. He takes up position immediately.Childs takes over from Paul Jardine, who retired from role earlier this year after nine years on council.  Full Article

Hiscox Q1 gross written premiums up, picks Luxembourg as EU base
Tuesday, 9 May 2017 02:01am EDT 

May 9 (Reuters) - Hiscox Ltd ::Q1 gross written premiums grew by 17.3 pct to 751.2 million stg (2016: 640.5 million stg).As forecast, Q1 Hiscox London market income is down in constant currency.Hiscox RE and ILS are finding opportunities - CEO.Co has had a strong start to year."Remain disciplined and are carefully navigating our way forward" - CEO.Q1 gross written premiums in London Market business were 157.7 million stg (2016: 157.1 million stg).Q1 gross written premiums decreased in constant currency by 3.5 pct to $269.3 million (2016: $279.2 million) for Hiscox Re and ILS.Will establish a new European subsidiary in Luxembourg in response to Brexit.Hiscox retail business in Europe will be written through this new EU subsidiary.Existing European business, which comprises over 350 people across seven of EU 27 countries, will continue to operate without interruption.In Luxembourg a team covering core functions such as compliance, risk and internal audit will be recruited to complement existing structure.Process of establishment will begin immediately.Expect to complete restructuring well in advance of March 2019.  Full Article

Hiscox Ltd says full-year pretax profit up 64 percent
Monday, 27 Feb 2017 02:01am EST 

Hiscox Ltd : Fy pretax profit 354.5 million stg versus 216.1 million stg year ago . Final dividend 19 penceper share . Total dividend up 15 percent to 27.5 penceper share . Fy gross premiums written £2,402.6m versus £1,944.2m year ago . Fy net premiums earned £1,675.0m versus £1,435.0m year ago . Fy profit before tax £354.5m versus £216.1m year ago . Fy total ordinary dividend per share for year 27.5p vs24.0p year ago . Fy group combined ratio 84.4 pct versus 85.0 pct year ago . Fy return on equity 23.0 pct versus 16.0 pct year ago . Fy reserve releases £213.0m versus £205.9m year ago . Hiscox - remain focused and disciplined where margins are shrinking and invest where we see opportunities for long-term profitable growth - ceo .Hiscox - there are uncertainties, both from insurance and political environments, but hiscox has right... Financial power to adapt to what lies ahead.  Full Article

BRIEF-Hiscox Says two senior appointments

* STEVE LANGAN, CEO OF HISCOX UK & EUROPE, WILL RELOCATE TO NEW YORK TO TAKE UP ROLE OF CEO HISCOX USA, EFFECTIVE FROM 1 JULY 2018