5th Aug 2026 11:18
(Alliance News) - Hiscox Ltd on Wednesday reported a first half profit decline but lifted its annual premiums growth guidance in the Retail division.
The Bermuda-based insurer said pretax profit in the six months to June 30 fell 13% to USD240.5 million from USD276.6 million, despite insurance revenue rising 9.3% to USD2.30 billion from USD2.11 billion.
Insurance contract written premiums improved 10% to USD3.24 billion from USD2.94 billion.
Hitting profit, Hiscox reported a net fair loss on financial assets of USD78.4 million, swinging from a gain of USD61.1 million in the first half of 2025.
The firm said it had profitable growth in all three of its business segments, Hiscox Retail, Hiscox London Market and Hiscox Re & ILS.
"We are delivering on our commitments, achieving our targets and realising our strategic ambitions. I am pleased with the double-digit premium growth in the first half, as Retail continues its multi-year growth acceleration and we successfully navigate an evolving market in big-ticket through disciplined underwriting, innovation and proactive cycle management," Chief Executive Officer Aki Hussain said.
Hiscox lifted its interim dividend by 17% on-year to 16.8 cents per share from 14.4 cents.
It added that a USD300 million buyback is "progressing well". It said it was 32% completed as at the end of June. The remainder is to be completed ahead of its annual results.
At Hiscox Retail, the firm has raised guidance insurance contract written premium growth guidance to 9% at constant currency for the whole of 2026. It had previously guided for an 8% rise. Retail premiums grew 8.2% at constant currency in the first half.
The firm added: "We go into the second half of the year with the energy, momentum and financial strength to continue executing upon our growth and change strategy, to deliver our strategic ambitions and capture the vast opportunities ahead of us."
Hiscox shares rose 1.4% to 1,802.00 pence each in London on Wednesday morning.
By Niall Holden, Alliance News reporter
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