Slide 1: Hiscox Ltd preliminary results for year ended 31 December 2011
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Slide 2: A very expensive year for the industry
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Slide 3: A solid performance
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Slide 4: Strategy of balance is working
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Slide 5: Financial performance
Mn HISCOX Financial performance
Slide 6: A profit in a difficult year
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Slide 7: Segmental analysis
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Slide 8: Investment performance
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Slide 9: High quality and well diversified portfolio
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Slide 10: Portfolios - USD bond portfolios
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Slide 11: Portfolios - GBP, EUR and CAD bond portfolios
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Slide 12: Government and bank exposure analysis
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Slide 13: Fascinating financial facts
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Slide 14: Underwriting
Mn HISCOX Underwriting
Slide 15: An actively managed business
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Slide 16: Catastrophe update
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Slide 17: Catastrophes are changing the market
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Slide 18: Boxplot and whisker diagram of Hiscox Ltd net loss
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Slide 19: Reserving strength
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Slide 20: Business performance
Mn HISCOX Business performance
Slide 21: Managing the business
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Slide 22: Hiscox London Market
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Slide 23: Hiscox UK
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Slide 24: Hiscox Europe
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Slide 25: Hiscox International
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Slide 26: Weekly client applications and policy sales
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Slide 27: Summary and outlook
Mn HISCOX Summary and outlook
Slide 28: Total Group controlled premium
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Slide 29: A great business and a good outlook
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Slide 30: Robert Hiscox
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Slide 31: Appendices
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Slide 32: Geographic reach
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Slide 33: Strategic focus
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Slide 34: A symbiotic relationship
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Slide 35: Business trends
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Slide 36: Long-term growth
içåÖJíÉêã=ÖêçïíÜ _ÉêãìÇ~ eáëÅçñ=rp^ eáëÅçñ=içåÇçå=j~êâÉí=J oÉí~áä eáëÅçñ=rh eáëÅçñ=içåÇçå=j~êâÉí=J sçä~íáäÉ eáëÅçñ=dìÉêåëÉó eáëÅçñ=bìêçéÉ NUMM NSMM dêçëë=ïêáííÉå=éêÉãáìãë=E¡MMMF NQMM NOMM NMMM UMM SMM QMM OMM M NVVP NVVQ NVVR NVVS NVVT NVVU NVVV OMMM OMMN OMMO OMMP OMMQ OMMR OMMS OMMT OMMU OMMV OMNM
Slide 37: Hiscox Ltd results
eáëÅçñ=iíÇ=êÉëìäíë ¡MMM OMNN OMNM OMMV OMMU OMMT OMMS dêçëë=éêÉãáìãë=ïêáííÉå NIQQVIONV NIQPOISTQ NIQPRIQMN NINQTIPSQ NINVUIVQV NINOSINSQ kÉí=éêÉãáìãë=ïêáííÉå NINTQIMNN NINPNISOT NINRTIMOP UVUIPVQ VTQIVNM VTRIPVT kÉí=éêÉãáìãë=É~êåÉÇ NINQRIMMT NINPNINRU NIMVUINMO VOUIMVR VSRINVM UUUIUOU mêçÑáí=ÄÉÑçêÉ=
Slide 38: Group structure
dêçìé=ëíêìÅíìêÉ= eáëÅçñ=iíÇ eáëÅçñ=içåÇçå= eáëÅçñ=bìêçéÉ eáëÅçñ=_ÉêãìÇ~ eáëÅçñ=dìÉêåëÉó eáëÅçñ=rp^ eáëÅçñ=rh j~êâÉí oìëëÉää=jÉêêÉíí `Ü~êäÉë=aìééäáå píÉîÉ=`~ãã oáÅÜ~êÇ=t~íëçå píÉîÉ=i~åÖ~å= máÉêêÉJläáîáÉê=aÉë~ìääÉ - oÉáåëìê~åÅÉ= - oÉáåëìê~åÅÉ - cáåÉ=~êí - bêêçêë=~åÇ= - cáåÉ=~êí - cáåÉ=~êí - mêçéÉêíó -
Slide 39: Hiscox London Market rating index
index level % M NMM OMM PMM QMM RMM SMM TMM UMM VMM cÉÄMM=íç=g~åMN gìäMM=íç=gìåMN aÉÅMM=íç=kçîMN j~óMN=íç=^éêMO lÅíMN=íç=pÉéMO j~êMO=íç=cÉÄMP j~êáåÉ=~åÇ=ÉåÉêÖó ^ìÖMO=íç=gìäMP g~åMP=íç=aÉÅMP gìåMP=íç=j~óMQ kçîMP=íç=lÅíMQ mêçéÉêíó ^éêMQ=íç=j~êMR pÉéMQ=íç=^ìÖMR cÉÄMR=íç=g~åMS gìäMR=íç=gìåMS aÉÅMR=íç=kç
Slide 40: Hiscox UK and Europe rating index
index level % M OM QM SM UM NMM NOM NQM NSM cÉÄJMM=íç=g~åJMN gìåJMM=íç=j~óJMN lÅíJMM=íç=pÉéJMN cÉÄJMN=íç=g~åJMO gìåJMN=íç=j~óJMO lÅíJMN=íç=pÉéJMO cÉÄJMO=íç=g~åJMP gìåJMO=íç=j~óJMP rh=ÅçããÉêÅá~ä=äáåÉë lÅíJMO=íç=pÉéJMP cÉÄJMP=íç=g~åJMQ gìåJMP=íç=j~óJMQ lÅíJMP=íç=pÉéJMQ cÉÄJMQ=íç=g~åJMR gìåJMQ=íç=j~óJM
Slide 41: London Market premium vs. exposure index
içåÇçå=j~êâÉí mêÉãáìã=îëK=ÉñéçëìêÉ=áåÇÉñ bñéçëìêÉ mêÉãáìã PSO OVO OUT OTP ORO OQT OQU OQN OOR NVR NSP NRP NPR NQM NPN NOS NOS NNQ NMM UV NMM UQ TT TN OMMM OMMN OMMO OMMP OMMQ OMMR OMMS OMMT OMMU OMMV OMNM OMNN OMMM OMMN OMMO OMMP OMMQ OMMR OMMS OMMT OMMU OMMV OMNM OMNN QM
Slide 42: Boxplot and whisker diagram of Hiscox Ltd net loss
_çñéäçí=~åÇ=ïÜáëâÉê=Çá~Öê~ã=çÑ= eáëÅçñ=iíÇ=åÉí=äçëë=EAãF=aÉÅÉãÄÉê=OMNN içã~=mêáÉí~=nì~âÉ=ASÄå=ã~êâÉí=äçëë= kçêíÜêáÇÖÉ=nì~âÉ=AOQÄå=ã~êâÉí=äçëë= eìêêáÅ~åÉ=^åÇêÉï=ARSÄå=ã~êâÉí=äçëë= eìêêáÅ~åÉ=h~íêáå~=ARMÄå=ã~êâÉí=äçëë= OMNN=qçÜçâì=nì~âÉ=AORÄå=ã~êâÉí= eìêêáÅ~åÉ=fâÉ=J ANTÄå=ã~êâÉí=äçëë= içïÉê=RBJ ìééÉê=
Slide 43: Realistic disaster scenarios
oÉ~äáëíáÅ=Çáë~ëíÉê=ëÅÉå~êáçë eáëÅçñ=dêçìé=J äçëëÉë=ëÜçïå=~ë=éÉêÅÉåí~ÖÉ= çÑ=OMNN=Öêçëë=~åÇ=åÉí=ïêáííÉå=éêÉãáìã= fåÇìëíêó=äçëë=êÉíìêå=éÉêáçÇ g~é~åÉëÉ= TB É~êíÜèì~âÉ ARMÄå=N=áå=OQM=óÉ~ê NMB dìäÑ=çÑ=jÉñáÅç= NMB ïáåÇëíçêã ANMTÄå=N=áå=UM=óÉ~ê PQB cäçêáÇ~= SB ANORÄå=N=áå=NMM=óÉ~ê ïáåÇëíçêã ONB bìêçéÉ~å= NN
Slide 44: Available capital decides risk limits
^î~áä~ÄäÉ=Å~éáí~ä=ÇÉÅáÇÉë=êáëâ=äáãáíë QP
Slide 45: Reinsurance purchased - move to more pro-rata
oÉáåëìê~åÅÉ=éìêÅÜ~ëÉÇ=Ó ãçîÉ=íç=ãçêÉ=éêçJê~í~ nìçí~=ëÜ~êÉ=ÄÉåÉÑáíë PUB PPB PSB √ dççÇ=ìëÉ=çÑ= QPB RRB íÜáêÇJé~êíó=Å~éáí~ä bñÅÉëë= SMB çÑ=äçëë √ cÉÉë=~åÇ=éêçÑáí= Åçããáëëáçåë SOB STB SQB √ cäÉñáÄáäáíó=J Åçëí= RTB äáåâÉÇ=íç=ÄìëáåÉëë= nìçí~= QMB QRB îçäìãÉë ëÜ~êÉ OMMS OMMT OMMU OMMV OMNM OMNN QQ
Slide 46: GWP geographical and currency split
dtm=ÖÉçÖê~éÜáÅ~ä=~åÇ=ÅìêêÉåÅó=ëéäáí OMNN=ÖÉçÖê~éÜáÅ~ä=ëéäáí OMNN=ÅìêêÉåÅó=ëéäáí CAD and other 3.9% UK EUR 19.8% 15.6% 38.0% North America Worldwide 23.5% 52.3% 28.2% USD GBP 13.0% 5.7% Western Other Europe (excl. UK) QR
Slide 47: Group reinsurance security
dêçìé=êÉáåëìê~åÅÉ=ëÉÅìêáíó oÉÅÉáî~ÄäÉë=~í=PNLNOLNN=çÑ=¡QVOKRã== OMNO=êÉáåëìê~åÅÉ=éêçíÉÅíáçåëG cáêëí=äçëë=ÉñéçëìêÉ=Äó=ê~íáåÖ ^^^ `çää~íÉê~äáëÉÇ líÜÉê RKSB NNKQB QKOB ^ PSKVB ^^ PSKVB RPKPB ^ RNKTB ^^ GoÉáåëìê~åÅÉ=éä~ÅÉãÉåíë=áå=ÑçêÅÉ=~í=N=g~åì~êó=OMNOK QS
Slide 48: Reinsurance as a percentage of GWP
M NM OM PM QM OMMM PRKP OMMN OTKP OMMO OSKM OMMP NTKP OMMQ NPKT OMMR OMKV OMMS NPKQ oÉáåëìê~åÅÉ=~ë=~=B=çÑ=dtm OMMT NUKT OMMU ONKTG OMMV NVKQ oÉáåëìê~åÅÉ OMNM ONKM OMNN NVKM G^ãÉåÇÉÇ=ÇìÉ=íç=êÉÅä~ëëáÑáÅ~íáçå=çÑ=êÉáåëìê~åÅÉ=ÅçããáëëáçåëK M NM OM PM QM OMMM NUKO OMMN OSKV OMMO NRKQ çÑ=íçí~ä=~ëëÉíë OMMP N
Slide 49: Glossary of terms
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Slide 50: Glossary of terms
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