Hiscox Ltd Financial Condition Report
The Bermuda Monetary Authority (BMA) requires Bermudian insurers to publish annually a Financial Condition Report (FCR). The purpose of the FCR is to provide stakeholders, including policyholders, regulators and shareholders with additional information on the financial condition of the insurer over and above that contained in the annual financial statements.
Hiscox Ltd Financial Condition Report
Hiscox Insurance Company Solvency and Financial Condition Report
Hiscox is required by the UK’s Prudential Regulation Authority (PRA) to submit a Solvency and Financial Condition Report (SFCR) in accordance with the Solvency II Directive. This provides stakeholders with additional information over and above that contained in our annual financial statements.
Hiscox Insurance Company Solvency and Financial Condition Report
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Group tax strategy
Hiscox has a responsible approach to tax. We pay the right amount of tax in every operating location, while creating sustainable value for the benefit of the shareholders. We strive to act responsibly by complying with all relevant legislation, meeting all compliance and reporting obligations. We operate in an open and transparent manner with the tax authorities in every jurisdiction. We plan to be efficient with our tax affairs, but tax mitigation is not a driver for activity.
Financial crime statement
Hiscox is committed to maintaining a culture of integrity, transparency and accountability to ensure compliance with all applicable financial crime laws and regulations.
Information security statement
Hiscox is committed to protecting the confidentiality, integrity and availability of the data it holds, with an effective Information Security Management System (ISMS) and robust information security controls.
Information security statement
Modern slavery statement
Hiscox is committed to ensuring that we comply with the provisions of the Modern Slavery Act. As such, we take a zero-tolerance approach to slavery or human trafficking in our supply chains or in any part of our business.
Group health and safety policy
Our health and safety policy is to provide across all Hiscox Group activities and locations, and in as far as is reasonably practicable, a work environment and work activities that together ensure the health, safety and welfare of all our employees and those who are affected by our operations.
Group health and safety policy
Equality policy statement
The purpose of this policy to provide equal opportunities to all in employment, irrespective of their gender, race, disability, age, sexuality, religion, beliefs, marital status and social class. Hiscox strongly opposes all forms of unlawful and unfair discrimination.
Diversity and inclusion policy
We want to build teams that are as diverse as the customers and communities we serve and create an environment where all our people can thrive.
Diversity and inclusion policy
Board diversity statement
For us, diversity is ensuring that we have employees with different backgrounds, perspectives and experiences. This brings diversity of thought, which is vital at every level of the business including at Board level.
Parental leave policies
Our policies differ by country. Here you’ll find our parental leave policies (maternity, paternity, parental leave and adoption leave) across the Group.
Environmental policy
Our environmental policy sets out the standards we aim to achieve throughout Hiscox Group activities.
Hiscox Group ESG exclusions policy
(Re)insurers have a role in ensuring an orderly transition to a low carbon economy and we want to play our part. Hiscox has a Group-wide exclusions policy, effective from 1 January 2022.
FATCA
The Foreign Account Tax Compliance Act (‘FATCA’) is US law designed to prevent US taxpayers from hiding their taxable income offshore.
Effective 1 July 2014, this new law requires US brokers and other withholding agents to check the status of their counterparties when making certain payments (including certain (re)insurance premium payments), in order to ensure the transaction will not – whether inadvertently or intentionally – result in the payment of undeclared US taxable income. Companies and other non-natural entities are encouraged to use IRS Form W-8BEN-E to provide evidence of their FATCA status.
Hiscox is therefore making these forms available for those of its insurance carriers which may be in receipt of US-sourced insurance premiums.
Should you have any queries, please contact:
In Bermuda: An-Wanae Butterfield
[email protected]
+1 441 278 8386
In the UK: Clare Murray
[email protected]
+44 (0)20 7448 6000
In the US: Ron Lemp
r[email protected]
+1 914 273 7468
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Hiscox Insurance Company (Bermuda) Limited – signed W-8BEN-E
- Hiscox Insurance Company (Guernsey) Limited – signed W-8BEN-E
- Hiscox Insurance Company Limited – signed W-8BEN-E
- Hiscox Agency Ltd – signed W-8IMY
- Hiscox Inc. – signed W-9
Proposed merger of Hiscox Europe Underwriting Limited (HEUL) into Hiscox SA (HSA)
The legal process for the proposed merger of Hiscox Europe Underwriting Limited (HEUL) into Hiscox SA (HSA), both of which are part of the Hiscox Group, is underway and as such we have published the HEUL Directors’ Report concerning the merger:
HEUL Directors’ report
Joint merger terms
Hiscox Pension Scheme
This statement sets down the principles governing investment decisions for the Hiscox Pension Scheme in order to meet the requirements of the Pensions Act 1995, the Pensions Act 2004 and subsequent relevant legislation.
Key policies and disclosures for Hiscox Group.
