Business
Hiscox 2015 preliminary results
Hiscox 2015 preliminary results.
About this update from Hiscox Ltd
[{"type":"text","content":"\n \nRNS Number : 3838Q Hiscox Ltd 29 February 2016 \n\n \n \n \nHiscox Ltd full year results\n \n \nFor the year ended 31 December 2015\n\"A good year\"\n \n\n\n\n\n \n\n\n2015\n\n\n2014\n\n\n\n\nGross premiums written \n\n\n£1,944.2m\n\n\n£1,756.3m\n\n\n\n\nNet premiums earned\n\n\n£1,435.0m\n\n\n£1,316.3m\n\n\n\n\nProfit before tax\n\n\n£216.1m\n\n\n£231.1m\n\n\n\n\nEarnings per share\n\n\n72.8p\n\n\n67.4p\n\n\n\n\nTotal ordinary dividend per share for year\n\n\n24.0p\n\n\n22.5p\n\n\n\n\nSpecial dividend\n\n\n16.0p\n\n\n45.0p\n\n\n\n\nNet asset value per share\n\n\n545.0p\n\n\n462.5p\n\n\n\n\nGroup combined ratio\n\n\n85.0%\n\n\n83.9%\n\n\n\n\nReturn on equity\n\n\n16.0%\n\n\n17.1%\n\n\n\n\nInvestment return\n\n\n1.0%\n\n\n1.8%\n\n\n\n\nReserve releases\n\n\n£205.9m\n\n\n£172.2m\n\n\n\n\n \nHighlights\n· Strong premium growth of 10.7% from across the Group, with retail businesses now generating 50% of income. \n· Each division delivered good profits through careful risk selection, growth in profitable niches and an absence of natural catastrophes.\n· Investment in the Hiscox brand continues to deliver, with retail customers now exceeding 600,000.\n· Hiscox London Market continues to grow profitably, benefiting from new teams in complementary specialty lines.\n· Hiscox Re performing well with Kiskadee Investment Managers' AUM on track to reach US$1 billion in 2016 after its second year of operation.\n· A second interim dividend of 32.0p per share comprised of a special dividend of 16.0p and a final dividend equivalent of 16.0p, bringing the year's total distribution to 40.0p. Going forward the Group will retain a greater proportion of earnings to fund the growth opportunities we see. \n \nBronek Masojada, Chief Executive of Hiscox Ltd, commented:\n\"Our strategy continues to deliver good growth with our retail businesses contributing 50% of income. We have established profitable operations in everything from direct-to-consumer small business insurance to ILS fund management. This diversity sets us apart and gives us options.\" \n \n \nFor further information\n\n\n\n\nHiscox Ltd\n\n\n&...