For the six-month period ended 30 June 2026
“The power of Hiscox: delivering growth and returns in complex markets.”
| H1 2026 | H1 2025 | |
| Insurance contract written premium1 | $3,238.4m | $2,941.6m |
| Net insurance contract written premium1 | $2,269.3m | $2,125.2m |
| Insurance service result | $255.4m | $196.2m |
| Investment result | $128.2m | $234.9m |
| Profit before tax | $240.5m | $276.6m |
| Earnings per share | 82.3¢ | 67.2¢ |
| Interim dividend per share | 16.8¢ | 14.4¢ |
| Net asset value per share1 | 1,234.9¢ | 1,133.3¢ |
| Group combined ratio (undiscounted)1 | 90.4% | 92.6% |
| Adjusted operating profit before tax1 | $331.0m | $262.0m |
| Adjusted operating return on tangible equity (ROTE)1 | 20.2% | 14.5% |
| Adjusted operating earnings per share1 | 105.2¢ | 63.9¢ |
Highlights
- Insurance contract written premium (ICWP) grew by 10.1% to $3,238.4 million, with profitable growth in all three business segments.
- Hiscox Retail’s 2026 ICWP growth guidance upgraded from 8% to 9% for the full-year, as Retail grew 8.2% in constant currency in the first half, and momentum continues to accelerate.
- Adjusted operating ROTE of 20.2% (H1 2025: 14.5%), above the through-the-cycle mid-teens target.
- Undiscounted combined ratio of 90.4% (H1 2025: 92.6%) demonstrates the resilience of Hiscox as the Group’s diversified business portfolio continues to deliver robust outcomes in a more unpredictable environment.
- Investment result of $128.2 million (H1 2025: $234.9 million) reflects the earn-through of higher coupons, partly offset by unrealised fair value losses on fixed income securities which are expected to unwind as the bonds mature.
- Change programme achieved P&L benefit of $45 million in the first half at a cost of $39 million, remaining on track to deliver $75 million in 2026 and $200 million in 2028.
- Interim dividend of 16.8 cents per share, an increase of 16.7% year-on-year. $300 million buyback progressing well, with 32% completed as at 30 June 2026 and the remainder expected to be completed ahead of the full year 2026 results.
Aki Hussain, Group Chief Executive Officer, Hiscox Ltd, commented:
“Our diverse business portfolio, underpinned by our specialty underwriting ecosystem, entrepreneurial culture and a relentless focus on dynamic capital allocation and returns, has led to Hiscox again delivering robust outcomes in a more unpredictable and challenging market.
We are delivering on our commitments, achieving our targets and realising our strategic ambitions. I am pleased with the double-digit premium growth in the first half, as Retail continues its multi-year growth acceleration and we successfully navigate an evolving market in big-ticket through disciplined underwriting, innovation and proactive cycle management.
As we grow, we are becoming more efficient. Enhanced operational capabilities, increasingly powered by AI where it makes sense, are driving productivity gains and delivering greater operating leverage.
The adjusted operating ROTE of 20.2% reflects the benefit of the combined Group and is driven by profitable growth in all businesses, underwriting excellence and a growing investment portfolio.
The outlook remains positive. In Retail, strong growth in the first half, powered by a broad base of initiatives, gives us confidence to upgrade Hiscox Retail’s constant currency 2026 growth guidance to 9% for the full-year.”
ENDS
[1]Alternative performance measure definitions used by the Group are included within the condensed consolidated interim financial statements. ROTE is annualised.
A conference call for investors and analysts will be held at 10:30 BST on Wednesday, 5 August 2026.
Participant dial-in numbers:
United Kingdom (local): + 44 (0) 20 3936 2999
All other locations: +44 808 189 0158
Participant access code: 597268
For further information
Investors and analysts
Yana O’Sullivan, Director of Investor Relations, London +44 (0)20 3321 5598
Marc Wetherhill, Group Company Secretary, Bermuda +1 441 278 8300
Media
Eleanor Orebi Gann, Chief Communications Officer, London +44 (0)20 7081 4815
Simone Selzer, Brunswick +44 (0)20 7404 5959
About The Hiscox Group
Hiscox is a global specialty insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). With roots dating back to 1901, 2026 marks 125 years of Hiscox and we are proud of our long heritage in insuring specialist and complex risks. Our ambition is to continue to be among the world’s most respected specialist insurers, 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 13 countries and has customers worldwide. Through our retail businesses in the USA, UK and Europe, we offer a range of specialist insurance products in commercial and personal lines. Internationally traded, bigger-ticket business and reinsurance are underwritten through Hiscox London Market and Hiscox Re.
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.
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