Hiscox unveils H1 financial results

Hiscox unveils H1 financial results

It’s the flip of specialist international insurer Hiscox Ltd to share its story of turning issues round – from final yr’s $138.9 million pre-tax loss within the first half to H1 2021’s revenue earlier than tax of $133.4 million.

“It is a good end result pushed by sturdy performances throughout all our companies,” stated chief govt Bronek Masojada, who’s retiring on the finish of 2021. “Our investments in digital buying and selling continues to bear fruit and market circumstances are one of the best we have now skilled for a few years.

“Hiscox has the fire-power, new management and expertise to seize the numerous alternatives forward.”

Gross written premium (GWP), in the meantime, rose 8.5% to $2.4 billion. The group cited “good progress and optimistic fee momentum” in all its divisions – Hiscox Retail, Hiscox London Market, and Hiscox Re & ILS. The retail enterprise, specifically, noticed a 7.9% improve in GWP.  

Moreover, the insurer’s group mixed ratio stood at 93.1%. It was 114.6% in the identical six-month span final yr.

In the meantime the corporate famous: “Having rigorously thought-about the capital necessities of the enterprise, the board has authorized the choice to renew the fee of the interim dividend at 11.5 cents per share with a progressive dividend coverage going ahead.”

Hiscox – which has clients worldwide and employs greater than 3,000 individuals in 14 international locations – stated the file date for the dividend can be August 13 whereas the fee date can be September 22.

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