Hamilton, Bermuda (27 February 2017) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104’s 2014 account. It also announces the current estimates for Syndicate 33 and Syndicate 6104’s 2015 and 2016 accounts.
The results for 2014 expressed as a percentage of capacity, are as follows:
|Syndicate||Year of account||Closing result||Previous estimate||Capacity||Hiscox share|
|33||2014||17.0%||5.0% to 15.0%||£1,000m||73%|
|6104||2014||36.1%||30.0% to 40.0%||£72m||0%|
The estimates for 2015 and 2016, expressed as a percentage of capacity, are as follows:
|Syndicate||Year of account||Current estimate||Previous estimate||Capacity||Hiscox share|
|33||2015||0.0% to 10.0%||0.0% to 10.0%||£999m||73%|
|33||2016||(5.0%) to 5.0%||N/A||£1,000m||73%|
|6104||2015||25.0% to 35.0%||25.0% to 35.0%||£65m||0%|
|6104||2016||5.0% to 15.0%||N/A||£56m||0%|
For further information:
|Jeremy Pinchin, Group Company Secretary||+1 441 278 8300|
|Kylie O’Connor, Head of Group Communications, London||+44 (0)20 7448 6656|
|Tom Burns||+44 (0)20 7404 5959|
Notes to editors:
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, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting divisions in the Group - Hiscox Retail (which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia), Hiscox London Market and Hiscox Re. Through its retail businesses in the UK, Europe and the US Hiscox offers a range of specialist insurance for professionals and business customers, as well as homeowners. Hiscox underwrites internationally traded, bigger ticket business and reinsurance through Hiscox London Market and Hiscox Re.
For further information, visit www.hiscoxgroup.com.
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