We are a leading specialist insurer with:
- balance that creates opportunity throughout the cycle
- strong financial performance
- a transparent approach to risk
- specialist expertise that is valued by our customers
OUR BUSINESS
A balanced portfolio that creates opportunity 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 strong. When these rates are no longer favourable, we have the flexibility to shrink this side of the business.
OUR PERFORMANCE
Strong financial performance
Hiscox has a strong record of top-line growth with a focus on ROE. Performance highlights between 2006 and 2010 include:
- healthy combined ratio averaging 85.0%
- delivered average ROE of 22.7%
- maintained a progressive dividend policy with compound growth of 10.5%.
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 and on our website, 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:*
98% of business insurance customers were satisfied that we spoke to them in a clear way and avoided using financial jargon
over 90% of our home insurance customers surveyed were satisfied with the way we settled their claim.
In Europe, a survey** of our brokers saw Hiscox rated the top insurer for superb service and the best claims service.
In 2010 Hiscox UK was awarded ‘Specialist Insurance Provider of the Year’, from Spears Wealth Management and became a Which? recommended provider for home and contents insurance. On the commercial side, Hiscox UK won Best Small Business Insurance award for the second year running at the Start Your Business Awards 2010.