7th Feb 2005 11:00
Hiscox PLC07 February 2005 7 February 2005 HISCOX PLC ANNOUNCEMENT Hiscox plc acquires specialist event insurance provider, Insurex Expo-Sure Hiscox plc, the leading specialist insurer, announced today the acquisition of Insurex Expo-Sure, the UK's leading specialist insurance provider to the conference, event and exhibitions market. Hiscox will acquire 100% of the operation, fromAlexander Forbes. Insurex provides a wide portfolio of conference, events and exhibition insurance to over 2000 clients ranging from private individuals to global companies. Basedin Tunbridge Wells, Kent, it has a long-standing relationship with Hiscox on event cancellation business. Following the acquisition, Insurex will remain a distinct brand and Hiscox willgradually integrate its operational activities into the Hiscox business structureto create improved systems and cost savings. Bronek Masojada, Chief Executive of Hiscox plc, said: "Our strategy has always been to grow through leadership in specialist markets.The acquisition by Hiscox of Insurex builds upon a strong working relationshipto create a new force in this marketplace. Clients will be able to benefit fromour specialist knowledge of this market, high quality underwriting skills, and astrong distribution network. Albert Kemp, Chairman of Insurex, said: "Insurex Expo-Sure has been a leader in this market for many years. Becomingpart of Hiscox gives us the underwriting support, operational experience anddistribution reach to achieve our next stage of growth and improve our serviceto clients and brokers. - ends - For further information: Hiscox plc Bronek Masojada Chief Executive 020 7448 6012Stuart Bridges Finance Director 020 7448 6013Fiona Fong Director of Communications 020 7448 6447 The Maitland Consultancy Philip Gawith 020 7379 5151Suzanne Bartch 020 7399 5151 Notes to editors 1. Insurex Expo-Sure was founded in 1976 as a specialist provider of insurancefor the conference, exhibition and events market. Insurex now employs 20 peopleand operates from premises in Tunbridge Wells, Kent. 2. The Directors who comprise Insurex's senior management team have over 50 years experience in the Event insurance industry. The Chairman Albert Kemp has been involved with Insurex Exposure for 30 years. 3. Hiscox plc is a specialist insurance group listed on the London StockExchange where it has a market capitalization of circa £500 million. There arethree main underwriting parts of the Group - Syndicate 33 at Lloyd's, UK Retailand International Retail. Syndicate 33 underwrites mainly internationally tradedbusiness in the London Market - generally large or complex business which needsto be shared with other insurers or needs the international licenses of Lloyd's.The UK Retail business offers a wide range of specialist insurance for professionals and business customers, as well as high net worth individuals. It has regionaloffices in Birmingham, Glasgow, Leeds, Maidenhead and Colchester.The InternationalRetail business has offices in Paris, Amsterdam, Munich, Brussels and Guernsey.The European offices write mainly high value household business and some specialistprofessional indemnity business. The Guernsey office underwrites kidnap and ransombusiness and fine art. For further information, go to www.hiscox.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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