Last checked at 11 Oct 2017 10:29
Hiscox Syndicate 33, 2018 Syndicate Business Forecast
Hamilton, Bermuda (11 October 2017) -- Hiscox Ltd (LSE:HSX), the international specialist insurer, today announces that it has published on its company website a summary of its 2018 business forecast for Syndicate 33. The summary business forecast is available at www.hiscoxgroup.com in the Investors section under Lloyd's Reporting.
At this stage Hiscox envisages a 2018 capacity of £1.6 billion for Syndicate 33, subject to Lloyd's approval. This represents an increase of £450 million from 2017.
The increase in capacity is driven by an anticipated improvement in market conditions and a desire to have sufficient capacity available to participate in a widespread market turn. This follows a period of significant catastrophe activity in 2017 in which more than US$100 billion of industry capital is estimated to have been destroyed.
Hiscox is required to disclose this information publicly due to the participation in its Syndicates by third party capital providers.