Business
Hiscox Ltd 2016 preliminary results
Hiscox Ltd 2016 preliminary results.
About this update from Hiscox Ltd
[{"type":"text","content":"\n \nRNS Number : 8578X Hiscox Ltd 27 February 2017 \n\n \n \nHiscox Ltd full year results\n \n \nFor the year ended 31 December 2016\n\"A record result\"\n \n\n\n\n\n\n\n\n2016\n\n\n2015\n\n\n\n\nGross premiums written \n\n\n£2,402.6m\n\n\n£1,944.2m\n\n\n\n\nNet premiums earned\n\n\n£1,675.0m\n\n\n£1,435.0m\n\n\n\n\nProfit before tax\n\n\n£354.5m\n\n\n£216.1m\n\n\n\n\nEarnings per share\n\n\n119.8p\n\n\n72.8p\n\n\n\n\nTotal ordinary dividend per share for year\n\n\n27.5p\n\n\n24.0p\n\n\n\n\nSpecial dividend\n\n\n\n\n\n16.0p\n\n\n\n\nNet asset value per share\n\n\n649.9p\n\n\n545.0p\n\n\n\n\nGroup combined ratio\n\n\n84.4%\n\n\n85.0%\n\n\n\n\nReturn on equity\n\n\n23.0%\n\n\n16.0%\n\n\n\n\nInvestment return\n\n\n1.9%\n\n\n1.0%\n\n\n\n\nForeign exchange gains\n\n\n£152.4m\n\n\n£15.2m\n\n\n\n\nReserve releases\n\n\n£213.0m\n\n\n£205.9m\n\n\n\n\n \nHighlights \n· A record profit of £354.5 million, an increase of 64%, with gross written premium growth of 23.6% (14.1% in local currency).\n· Hiscox Retail now accounts for 49% of the Group's GWP, 61% of NWP and 45% of profits (60% excluding foreign exchange gains). Hiscox UK and Europe doubled profits, and Hiscox USA remains the stand-out performer with premium growth of over 30%.\n· Hiscox London Market is navigating its way through a challenging trading environment, growing selectively and focusing on long-term opportunity. \n· Hiscox Re and ILS delivered an excellent result. It benefited from good underwriting and an increasing contribution from fees and profit commissions. Kiskadee Investment ...