Business
Announcement of share repurchase programme
Hiscox Ltd has announced a share repurchase programme with a maximum aggregate consideration of $300 million to return capital to shareholders, commencing with an initial tranche of $150 million to be completed by the end of the third quarter of 2026. The company has engaged Peel Hunt LLP to conduct this initial tranche, under which Hiscox will purchase its ordinary shares from Peel Hunt, with the intention to cancel these shares and reduce share capital. This programme, which allows for the repurchase of up to 20,776,059 ordinary shares, is being conducted in compliance with market abuse regulations and will be announced daily. Hiscox also indicated plans for a second tranche of the buyback programme in due course, following a strong 2025 performance and a 20% increase in final dividend per share. Disclaimer*
About this update from Hiscox Ltd
[{"type":"text","content":"\n\n \n \nAnnouncement of share repurchase programme\n \nHamilton, Bermuda (25 February 2026) - Hiscox Ltd (\"Hiscox\" or the \"Company\") today announces it will commence a buyback of its ordinary shares of 6.5 pence each (\"Ordinary Shares\") for a maximum aggregate consideration of up to $300 million (the \"Programme\"), in order to return additional capital to shareholders. The Programme will commence today with an initial tranche of $150 million to be completed no later than the end of the third quarter of 2026. \n \nHiscox has entered into a non-discretionary agreement with Peel Hunt LLP (\"Peel Hunt\") to conduct the initial tranche of the Programme with the Company subsequently purchasing its Ordinary Shares from Peel Hunt. Under this arrangement, Peel Hunt will act as principal and make trading decisions independently of Hiscox, except for Hiscox's ability to terminate Peel Hunt's mandate in certain limited circumstances.\n \nThe maximum aggregate consideration under the initial tranche is $150 million (excluding expenses). The Company intends to cancel such Ordinary Shares purchased. The sole purpose of the Programme is to reduce Hiscox's share capital.\n \nPurchases under the Programme will take place in open market transactions and may be made from time to time by Peel Hunt, depending on market conditions, share price and trading volumes. The Programme will be effected under the authority granted by shareholders at the Company's 2025 Annual General Meeting held on 15 May 2025 (and any subsequent authority) and, as at the date of this announcement, the maximum number of shares that may be repurchased under the Programme is 20,776,059 Ordinary Shares. Any purchases contemplated by this announcement will be carried out on the London Stock Exchange and/or other recognised investment exchange(s). The Programme's initial tranche will end when the maximum aggregate consideration is equal to, or as close as possible to (but does not exceed), $150 million or as otherwise terminated.\n \nThe Programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 as it forms part of UK law pursuant to ...