Last checked at 7 Mar 2024 07:30
Syndicates 33 and 6104 - results and estimates
Hamilton, Bermuda (07 March 2024) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the final results for Syndicate 33 and Syndicate 6104 2021 account. It also announces the current estimates for Syndicate 33's 2022 and 2023 accounts, and Syndicate 6104's 2020, 2022 and 2023 accounts.
The results for 2021 account (excluding Members' Agent fee) expressed as a percentage of capacity, are as follows:
Syndicate | Year of account | Closing result | Previous estimate | Capacity | Hiscox share |
33 | 2021 | 8.2% | 1.1% to 11.1% | £1,699m | 73% |
6104 | 2021 | 4.1% | (5.9%) to 9.1% | £23m | 0% |
The estimates for 2020 (Syndicate 6104 only), 2022 and 2023 expressed as a percentage of capacity, are as follows:
Syndicate | Year of account | Current estimate | Previous estimate | Capacity | Hiscox share |
33 | 2022 | 4.8% to 14.8% | 4.4% to 14.4% | £1,699m | 73% |
33 | 2023 | 6.9% to 16.9% | N/A | £1,698m | 73% |
6104* | 2020 | 22.4% to 32.4% | 0.4% to 10.4% | £44m | 0% |
6104 | 2022 | 11.3% to 21.3% | 9.9% to 19.9% | £13m | 0% |
6104 | 2023 | 19.7% to 29.7% | N/A | £19m | 0% |
* Syndicate 6104 2020 account remains open as at 31st December 2023.
ENDS
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, Group Head of Communications, London +44 (0)207 081 4815
Tom Burns, Brunswick +44 (0)20 7404 5959
Simone Selzer, Brunswick +44 (0)20 7404 5959
Notes to editors
About The Hiscox Group
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 is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer 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 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.
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.