REG - Hiscox Ltd - Completion of share repurchase programme

HiscoxAnnouncement

15/08/2024 07:15

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RNS Number : 5054A  Hiscox Ltd  15 August 2024

Completion of share repurchase programme

 

 

Hamilton, Bermuda (15 August 2024) - Hiscox Ltd ("Hiscox" or the "Company")
today announces that, further to the share repurchase programme announced on 5
March 2024 to buy back its ordinary shares of 6.5 pence each ("Ordinary
Shares") for a maximum aggregate consideration of $150 million (the
"Programme"), the Company completed the second and final tranche of the
Programme on 14 August 2024.

 

The Company purchased 4,896,100 Ordinary Shares between 5 March 2024 and 2 May
2024 pursuant to the agreement with Peel Hunt LLP to conduct the initial
tranche of the Programme totalling $75 million (excluding expenses). The
Company purchased 5,052,784 Ordinary Shares between 3 May 2024 and 14 August
2024 pursuant to the agreement with Citigroup Global Markets Limited
("Citigroup") to conduct the second tranche of the Programme totalling $75
million (excluding expenses). A total of 9,948,884 Ordinary Shares have been
purchased pursuant to the share repurchase programme.

 

Having completed the second tranche, Hiscox confirms it has now successfully
completed the $150 million Programme.

 

ENDS

 

For further information

 

Investors and analysts

Yana O'Sullivan, Director of Investor Relations, London +44 (0)20 3321 5598

Marc Wetherhill, Group Company Secretary, Bermuda +1 441 278 8300

 

Media

Eleanor Orebi Gann, Group Director of Communications, London +44 (0)20 7081
4815

Simone Selzer, Brunswick +44 (0)20 7404 5959

Tom Burns, Brunswick +44 (0)20 7404 5959

 

Notes to editors

 

About The Hiscox Group

 

Hiscox is a global specialist insurer, headquartered in Bermuda and listed
on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected
specialist insurer with a diverse portfolio by product and geography. We
believe that building balance between catastrophe-exposed business and less
volatile local specialty business gives us opportunities for profitable growth
throughout the insurance cycle.

 

The Hiscox Group employs over 3,000 people in 14 countries, and has customers
worldwide. Through the retail businesses in the USA, UK, Europe and Asia, we
offer a range of specialist insurance products in commercial and personal
lines. Internationally-traded, bigger-ticket business and reinsurance is
underwritten through Hiscox London Market and Hiscox Re & ILS.

 

Our values define our business, with a focus on people, courage, ownership and
integrity. We pride ourselves on being true to our word and our award-winning
claims service is testament to that. For more information,
visit www.hiscoxgroup.com (http://www.hiscoxgroup.com/) .

 

 

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