Hamilton, Bermuda (25 November 2008) - Hiscox Ltd (LSE: HSX), the international specialist insurer, announces its current estimate for Syndicate 33 for the 2006 and 2007 years of account.
The estimates for 2006 and 2007, expressed as a percentage of capacity, are as follows:
|
Year of account |
Current estimate |
Previous estimate |
Capacity |
Hiscox share |
|
2006 |
22.5% to 30% |
22.5% to 30% |
£832m |
73% |
|
2007 |
7.5% to 15% |
7.5% to 15% |
£874m |
73% |
ENDS
For further information:
Hiscox Ltd
Robin Mehta, Company Secretary, Bermuda +1 441 278 8300
Kylie O'Connor, 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 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, the international specialist insurer, is headquartered in Bermuda and 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, as well as 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.