We are a leading specialist insurer with:
- A balanced portfolio that creates opportunity throughout the cycle
- Strong financial performance
- A transparent approach to risk
- Specialist expertise that is valued by our customers
OUR BUSINESS
Balance that creates opportunities throughout a cyclical market
Hiscox’s strategy is to balance the more volatile catastrophe-exposed insurance and reinsurance with steady local specialty insurance. Our diversity by product and geography gives us great flexibility, particularly in a tough commercial environment. We are able to grow and shrink the catastrophe-exposed lines according to market conditions. Currently, rates for reinsurance, which makes up almost a third of our income, are close to an all-time high, and we are therefore making the most of this opportunity. However, we have the flexibility to shrink this side of the business when rates are no longer favourable. Our local specialty insurance business tends to be steadier throughout the insurance cycle and we have successfully grown our retail lines by 10% year on year over the last five years.
OUR PERFORMANCE
Strong financial performance
Hiscox has a strong record of top-line growth with a focus on ROE. Performance highlights between 2005 and 2009 include:
- Nearly doubled in size to produce gross written premiums of over £1.4 billion
- Healthy combined ratio averaging 86.2%
- Delivered average ROE of 22%
- Maintained a progressive dividend policy with compound growth of 16.5%
OUR EXPERTISE
A transparent approach to risk
The very business of insurance is managing risk. The understanding of risk is intrinsic to every level of decision-making in the Group. We devote a great deal of expertise to understanding the impact of global events and model these rigorously. We also draw on over 100 years of experience in insurance to assess these risks.
Catastrophes such as hurricanes and earthquakes could hit at any time, and naturally would have an impact on our business. Therefore twice a year in our analysts’ presentations we publish estimates of what the Group’s losses would be should such a catastrophe occur.
OUR PEOPLE
Specialist expertise that is valued by our customers
We are market leaders in many of our specialist areas and our customers value the expertise and cover we provide.
What our UK customers said:*
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97% of Business Insurance clients were satisfied that we spoke to them in a clear way and avoided using financial jargon
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95% of Home Insurance clients were satisfied that we answered their questions and provided the information they needed
- 93% of Home Insurance clients were satisfied that doing business with Hiscox was easy
In 2009 Hiscox UK was awarded General Insurer of the Year at the British Insurance Awards 2009.