Hiscox shares rise; Berenberg re-initiates coverage with 'buy'

Man

30/05/2025 09:02

** British insurer Hiscox Ltd HSX.L up 2.1% at 1,279p

** Stock among top pct gainers on FTSE 100 index .FTSE, which is up 0.63%

** Berenberg re-initiates coverage on HSX with "buy" rating and PT 1,450p

** Hiscox sets target to accelerate retail premium growth to double digits by 2028 at its maiden capital markets day

** Retail segment includes smaller-ticket, lower-volatility business

** "Acceleration of retail business growth means it will gradually become a bigger part of the overall group," says Berenberg

** Brokerage says co's planned $200 mln cost savings encourage profitability

** As of last close, stock up nearly 15.7% YTD

 (Reporting by Anandita Mehrotra in Bengaluru)

 ((Anandita.Mehrotra@thomsonreuters.com))