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Syndicates 33 and 6104 - results and estimates

 

Hamilton, Bermuda (25 February 2013) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces its final results for Syndicate 33 and Syndicate 6104’s 2010 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104’s 2011 and 2012 accounts.

The results for 2010, expressed as a percentage of capacity, are as follows:

Syndicate Year of account Current estimate Previous estimate Capacity Hiscox share
33 2010 7.2% -2.5% to 7.5% £1,000m 73%
6104 2010 8.9% 5.0% to 15.0% £45m 0%

The estimates for 2011 and 2012, expressed as a percentage of capacity, are as follows:

Syndicate Year of account Current estimate Previous estimate Capacity Hiscox share
33 2011 -5.0% to 5.0% -5.0% to 5.0% £900m 73%
33 2012 -5.0% to 5.0% N/A £950m 73%
6104 2011 5.0% to 20.0% 5.0% to 20.0% £37m 0%
6104 2012 -10.0% to 10.0% N/A £39m 0%

ENDS

For further information:

Hiscox Ltd
Jeremy Pinchin, Group Company Secretary +1 441 278 8300
Kylie O’Connor, Head of Group Communications, London +44 (0) 20 7448 6656
   
Brunswick  
Tom Burns +44 (0) 20 7404 5959
Clemmie Raynsford  

Notes to editors:

  1. 1. The Syndicates’ results and 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. 2. Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA.

For further information, visit www.hiscox.com.