REG - Hiscox Ltd - Syndicates 33 and 6104 – results and estimates

HiscoxAnnouncement

03/03/2025 10:30

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RNS Number : 0936Z  Hiscox Ltd  03 March 2025

 

Syndicates 33 and 6104 - results and estimates

 

Hamilton, Bermuda (03 March 2025) - Hiscox Ltd (LSE: HSX), the international
specialist insurer, announces the final results for Syndicate 33's 2022
account and Syndicate 6104's 2022 and 2020 accounts. It also announces the
current estimates for Syndicate 33 and Syndicate 6104's 2023 and 2024
accounts. The 2024 account estimates for both Syndicates 33 and 6104 take into
account the preliminary loss estimates resulting from the Los Angeles
wildfires, which occurred in early 2025.

 

The results for 2022 account and 2020 account (Syndicate 6104 only) (excluding
Members' Agent fee) expressed as a percentage of capacity, are as follows:

 

 Syndicate  Year of account  Closing result  Previous estimate  Capacity  Hiscox share
 33         2022             12.5%           6.4% to 16.4%      £1,699m   73%
 6104       2020             47.0%           34.2% to 44.2%     £44m      0%
 6104       2022             36.9%           21.8% to 31.8%     £13m      0%

 

The estimates for 2023 and 2024 expressed as a percentage of capacity, are as
follows:

 

 Syndicate  Year of account  Current estimate  Previous estimate  Capacity  Hiscox share
 33         2023             10.4% to 20.4%    7.9% to 17.9%      £1,699m   73%
 33         2024             3.0% to 13.0%     N/A                £1,699m   73%
 6104       2023             27.7% to 37.7%    22.5% to 32.5%     £19m      0%
 6104       2024             2.5% to 17.5%     N/A                £57m      0%

 

 

ENDS

 

For further information:

Hiscox Ltd

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

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

Media

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

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

 

Notes to editors

About The Hiscox Group

 

1. The Syndicates' estimates are after standard personal expenses, such as
Managing Agent fees and profit commission and all charges levied directly on
syndicates by Lloyd's, but before Members Agents' charges.

 

2. 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 UK, Europe, Asia and the USA,
we offer a range of specialist insurance for professionals and business
customers as well as homeowners. 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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