Business
Q1 2026 Trading Statement
Hiscox Ltd reported a 10.2% increase in group insurance contract written premiums to $1,717.1 million for the first three months of 2026, driven by strong momentum in its Retail segment which saw a 15.1% rise. The investment result was $34.1 million, or a 0.4% return year-to-date, impacted by $69.6 million in unrealised fair value losses on fixed income securities. The company is on track with its change programme, expecting $75 million in P&L benefit in 2026, and has repurchased 2.6 million shares for $54.5 million as part of its $300 million buyback programme. Loss experience remained within expectations due to a benign natural catastrophe environment, offsetting the impact of the Middle East conflict. Disclaimer*
About this update from Hiscox Ltd
Hiscox Ltd trading statement Hamilton, Bermuda (7 May 2026) - Hiscox Ltd (LSE:HSX), the international specialist insurer, today issues its trading statement for the first three months of the year to 31 March 2026 (Q1 2026). Highlights: · Group insurance contract written premiums (ICWP) increased by 10.2% to $1,717.1 million (Q1 2025: $1,558.0 million), driven by accelerating momentum in Retail and disciplined growth in big-ticket. · Hiscox Retail ICWP increased by 15.1% or 8.0%, in constant currency, in line with our full year guidance. Growth has stepped up in each of the businesses. · Investment result of $34.1 million or a return of 0.4% year-to-date. This includes $69.6 million of unrealised fair value losses on fixed income securities that are excluded from adjusted operating profit due to the higher rate environment which are expected to unwind as the bonds mature. · The change programme is on track with solid progress in outsourcing certain financial processes and consolidation of IT services under a single provider. · Loss experience in the first quarter has been within expectations as a benign natural catastrophe environment offset the impact of the Middle East conflict in the period. · Share buyback announced on 25 February 2026 progressing well with 2.6 million shares repurchased at a cost of $54.5 million as at 6 May 2026. Aki Hussain, Chief Executive Officer, Hiscox Ltd, commented: "Hiscox is building on strong momentum delivered in 2025, through capturing diverse, high-quality growth opportunities across each of our businesses. Hiscox Retail growth accelerated to 8.0%, as initiatives to broaden distribution, increase penetration in specialist niches, and expand specialty expertise into new markets continue to gain strong momentum. In big-ticket, we are proactively managing the softening cycle, while achieving growth through new business initiatives and in selected existing lines where conditions are more favourable. With our sharp focus on profitable growth and good progress on the change programme objectives, the outlook for 2026 is positive." Hiscox Group Hiscox's diversified business model enables the ...