Hiscox premiums grow YTD, confirms retail growth outlook

(Sharecast News) - Insurance firm Hiscox said on Thursday that insurance contract written premiums had grown in the nine months ended 30 September, as it continued to experience growth across its business segments. Hiscox reported a 5.9% rise in group insurance contract written premiums to $4.05bn, up from $3.83bn a year earlier, and said all three retail segments contributed to the increase, with Hiscox Retail on track to deliver growth in excess of 6% in constant currency for 2025.

The FTSE 250-listed firm also highlighted that its investment result had come in at $350.8m, representing a 4.2% return year-to-date, driven by the earn through of coupon and cash income.

Hiscox added that its change programme remained on track, while its upsized share buyback was progressing well, with 10.5m shares repurchased for $179.4m as of 5 November.

Chief executive Aki Hussain said: "Our diversified business model and distribution platforms provide access to growing markets in retail and attractive high-quality growth opportunities in big-ticket.

"We are on track to deliver accelerated retail growth in excess of 6% for the year. Capital generation remains strong in the third quarter, driven by the group's diverse earnings profile, underwriting excellence and further benefiting from a benign weather and large loss experience."

As of 0955 GMT, Hikma shares were down 1.82% at 1,349p.

Reporting by Iain Gilbert at Sharecast.com