- Title:
Correction: Syndicate results and estimates - Time:
07:00:04 - Date:
7 Aug 2020 - Category:
Corporate updates - ID:
4212V
Correction: Syndicates 33 and 6104 - results and estimates
This announcement corrects a typographic error in the announcement published at 7.00am on 3 August 2020 (RNS number 7340U) which incorrectly stated the previous estimates for Syndicate 33 years of account 2018 and 2019. The corrected announcement is included below.
Hamilton, Bermuda (7 August 2020) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces the current estimates for Syndicate 33 and Syndicate 6104's 2018 and 2019 accounts.
The estimates for 2018 and 2019, expressed as a percentage of capacity, are as follows:
| Syndicate |
Year of account |
Current estimate |
Previous estimate |
Capacity |
Hiscox share |
| 33 |
2018 |
(9.5%) to 0.5% |
(10.0%) to 0.0% |
£1,598m |
73% |
| 33 |
2019 |
(13.5%) to (3.5%) |
(7.5%) to 2.5% |
£1,399m |
73% |
| 6104 |
2018 |
(55.0%) to (45.0%) |
(65.0%) to (55.0%) |
£56m |
0% |
| 6104 |
2019 |
(40.5%) to (30.5%) |
(75.0%) to (65.0%) |
£55m |
0% |
ENDS
For further information
| Hiscox Ltd |
|
| Marc Wetherhill, Group Company Secretary, Bermuda |
+1 441 278 8300 |
| Kylie O'Connor, Group Communications Director, London |
+44 (0)20 7448 6656 |
| Ryan Thompson, Investor Relations Manager, London |
+44 (0)20 7448 6522 |
| Tom Burns |
+44 (0)20 7404 5959 |
| Simone Selzer |
+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 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 3,400 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.
Correction: Syndicate results and estimates07:00:047 Aug 2020Corporate updates4212V