Business
IFRS 17 restated results 2022
IFRS 17 restated results 2022.
About this update from Hiscox Ltd
[{"type":"text","content":"\n\n Hiscox Ltd 2022 restatements under IFRS 17\nHamilton, Bermuda (8 June 2023) - Hiscox Ltd (LSE:HSX), the international specialist insurer, today publishes its full year and half year 2022 restated financial results under IFRS 17.\nDespite the new presentation and remeasurement of numbers, there is no change in the outlook for Hiscox and any changes in guidance is purely definitional. Following an initial period of transition, over time, the Group expects greater transparency and comparability as reporting convention emerges.\n\n\n\n\n\n\n\n 2022 Total\n\n\nH1 2022\n\n\n \n\n\n\n\n\n\n\nIFRS 17\n\n\nIFRS 4\n\n\nIFRS 17\n\n\nIFRS 4\n\n\n \n\n\n\n\n\n\n\nUS$m\n\n\nUS$m\n\n\nUS$m\n\n\nUS$m\n\n\n \n\n\n\n\nInsurance contract written premium1\n\n\n$4,355.4\n\n\n$4,424.9\n\n\n$2,617.2\n\n\n$2,649.8\n\n\n\n\nNet insurance contract written premium2\n\n\n$3,225.5\n\n\n$2,980.0\n\n\n$1,784.5\n\n\n$1,609.3\n\n\n\n\nInsurance service result\n\n\n$360.9\n\n\n$269.53\n\n\n$140.2\n\n\n$123.23\n\n\n\n\nInvestment result\n\n\n$(187.3)\n\n\n$(187.3)\n\n\n$(214.1)\n\n\n$(214.1)\n\n\n\n\nProfit before tax\n\n\n$275.6\n\n\n$44.7\n\n\n$25.4\n\n\n$(107.4)\n\n\n\n\nEarnings per share\n\n\n73.8¢\n\n\n12.1¢\n\n\n9.8¢\n\n\n(25.3)¢\n\n\n\n\nOrdinary dividend per share\n\n\n36.0¢\n\n\n36.0¢\n\n\n12.0¢\n\n\n12.0¢\n\n\n\n\nNet asset value per share\n\n\n764.5¢\n\n\n701.2¢\n\n\n715.6¢\n\n\n679.5¢\n\n\n\n\nGroup combined ratio\n\n\n88.7%\n\n\n90.6%\n\n\n90.8%\n\n\n91.3%\n\n\n\n\nReturn on equity (annualised)\n\n\n10.1%\n\n\n1.7%\n\n\n2.6%\n\n\n(6.8)%\n\n\n\n\n &n...