Hiscox Ltd is a leading Insurance provider and is headquartered in Bermuda with a specialization in underwriting complex, property, liability and specialty insurance risks in the European and North American markets. The company has built a reputation for its underwriting of complex and high-risk insurance, among others, property, casualty and specialty insurance lines. Over the years since it was established in 1901, Hiscox has become a robust entity within the larger insurance industry, specializing in providing unique client based insurance products.
In 2023, Hiscox posted the highest profit ever thanks to excellent performance of the underwriting and almost doubled investment income. Hiscox has demonstrated how to fight even the global insurance market challenges with a well-controlled risk optimization and a focus on niche segments of the market. Hiscox is also committed to returning excess capital to shareholders with reasonable return on equity having already announced a $150 million buyback in 2023, several years after other similar programs.
Going forward, however, Hiscox Company is in a good position for growth, anticipating in strengthening its position in strategic markets as well as introducing more diversified insurance solutions in the specialty insurance business. This is in the context of Hiscox’s strategy as Broadly Aki Hussain and Clive Bannister so to speak, continue to keep a tight ship on the company’s financial prudence, while ensuring the shares and other stakeholders are rewarded with value over time.
| Category | Details |
|---|---|
| Net Worth (as of 2023) | $6.5 billion |
| Total Assets (2023) | $15.8 billion |
| Liabilities (2023) | $9.3 billion |
| Equity (2023) | $6.5 billion |
| Revenue (2023) | $4.60 billion (Insurance Contract Written Premium) |
| Operating Profit (2023) | $625.9 million (Profit Before Tax) |
| Net Investment Income (2023) | $384.4 million |
| Net Insurance Written Premiums (2023) | $3.56 billion |
| Combined Ratio (2023) | 89.8% (Undiscounted) |
| Return on Equity (2023) | 21.8% |
| Holdings by Category | – Type of Security: Predominantly specialty insurance assets, bonds, and equities – Industry Sector: Insurance and Reinsurance – Geographic Region: Global, with a focus on Europe, North America, and Bermuda – Credit Quality: High-quality specialty insurance products, A-rated bonds, and diversified investments – Maturity: Long-term insurance contracts and diversified financial investments |
| Audited Financial Statements | Obtained from the official information portal of Hiscox, presentation of holdings’ structure with a detailed explanation. The major portion of the top 50 holdings consists of the specialty insurance policy, financial investment instruments, and investments in various key market sectors internationally. |
| Condensed Financial Statements | Cited in the appendix of the annual report with statistical data including total assets, liabilities, net profits, and total comprehensive income over the period of five years. |
| Returns (1, 5, 10 years) | – 1 Year: 7.5% – 5 Years: 35.2% – 10 Years: 68.4% (Reflecting strong returns driven by Hiscox’s expertise in specialty insurance and innovative underwriting practices) |
| Management’s Discussion | Аll financially oriented employee focused on success of the business outlined the record results at the end of 2023 due to excellent underwriting results and increasing booming investment income. Hiscox showed stability in harsh conditions of the global insurance market with steady combined ratio and high return on equity. The company is still focused on strategic development of the business expanding to the niche of specialty insurance and creating shareholders’ value through efficient management of risks and capital investments. Optimism in forecasting the results is also shared by the management, planning to invest a lot in growth and build up shareholder returns using the strong capital base. |
| Important Persons & Top Officials | – Aki Hussain (Group Chief Executive Officer): $10.8 million net worth, leading Hiscox since 2022, with extensive experience in insurance and financial management. – Sally Lake (Group Chief Financial Officer): $7.5 million net worth, responsible for overseeing the financial strategy and ensuring the company’s robust financial health. – Clive Bannister (Chairperson): $9.6 million net worth, with a distinguished career in insurance and finance, guiding the company’s strategic direction and governance. |
| Directors & Officers | – Aki Hussain (Group Chief Executive Officer): Age 52, Tenure 2 years – Sally Lake (Group Chief Financial Officer): Age 49, Tenure 4 years – Clive Bannister (Chairperson): Age 62, Tenure 2 years – Remuneration: $12.3 million combined annual compensation for directors, reflecting competitive pay structures aligned with industry standards. |
