News

Hiscox Syndicate 33 2009 Business Plan Update

Hamilton, Bermuda (10 November 2008) -- Hiscox Ltd announces that it has published today on its company website an updated summary of its 2009 business forecast for Syndicate 33. The summary business forecast is available at www.hiscox.com in the Investors section under Lloyd's Reporting.

The plan, which has been approved by Lloyd’s, envisages a Syndicate capacity of £750m for 2009, an increase of £50m from 2008. The increase will provide Syndicate 33 with the ability to take advantage of additional underwriting opportunities as they arise. As a result of this pre-emption Syndicate 33's capacity will trade in the final Lloyd's capacity auction on 13 and 14 November 2008.

ENDS

For further information:

Hiscox Ltd

Robin Mehta, Company Secretary, Bermuda                                +1 441 278 8300

Jennifer Crowl, Director of Communications, London                  +44 (0) 207 448 6494

Maitland                                                                                      +44 (0) 207 379 5151

Suzanne Bartch

Richard Farnsworth

 

Notes to editors:

  1. The Syndicate forecasts 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.

  1. Hiscox, headquartered in Bermuda, is an international specialist insurance group listed on the London Stock Exchange (LSE: HSX). There are three main underwriting parts of the Group – Hiscox Global Markets, Hiscox UK and Europe and Hiscox International. Hiscox Global Markets underwrites mainly internationally traded business in the London Market – generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd’s. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, and tailored products for high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited and Hiscox Syndicates Ltd are regulated by the Financial Services Authority.  For further information, visit www.hiscox.com.