London · Delayed Price · Currency is GBP · Price in GBX Hiscox Earnings Call Transcripts
Fiscal Year 2026
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ICWP grew 10.2% to $1.7B, led by retail and selective big ticket growth. Retail premiums rose 8% with strong U.K. and U.S. momentum, while Hiscox Re saw 7.1% ICWP growth amid rate declines. Investment result was $34.1M, and the outlook for 2026 remains positive.
Fiscal Year 2025
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Record profits and underwriting results were achieved in 2025, with strong growth across all segments, robust capital generation, and significant returns to shareholders. Retail growth is set to accelerate further, supported by innovation and efficiency gains.
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ICWP grew 5.9% year-over-year, with all segments contributing and retail on track for 6%+ constant currency growth. Strong capital generation supports a 20% dividend increase, while innovation and disciplined underwriting drive growth despite rate softening in some markets.
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Strong first half with 5.7% premium growth, robust capital generation, and a 14.5% ROTE. Retail, London Market, and Reinsurance all contributed to growth, with significant capital returns to shareholders and continued investment in technology and new products.
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Management targets double-digit retail growth by 2028, driven by operational efficiencies, digital transformation, and expansion into new markets and products. A $200 million annual P&L benefit is expected from cost savings, supporting a mid-teens ROTE and enhanced dividends, as retail becomes a larger, more capital-efficient part of the group.
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ICWP grew 2.4% year-over-year to nearly $1.6B, led by strong Retail and Re & ILS growth. Investment returns were solid, and the group remains resilient amid market volatility, with disciplined underwriting and proactive inflation management supporting guidance.
Fiscal Year 2024
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Record profits and strong growth were delivered across all segments, with retail momentum accelerating and a 20% dividend increase plus a $175 million share buyback announced. The group remains well-capitalized, resilient to catastrophe losses, and expects continued growth in 2025.
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ICWP reached $3.9B with strong retail and Re/ILS growth, while claims and investment returns remain robust. Retail and London Market segments are positioned for further growth, with disciplined capital deployment and continued innovation supporting future momentum.
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Strong H1 results with $284M profit before tax and 16.5% ROE, driven by retail and property growth. Combined ratios remain robust across segments, capital position is strong, and investment in technology and brand is supporting long-term momentum.