7th Dec 2005 14:07
Hiscox PLC07 December 2005 Hiscox Bermuda is operational Hiscox plc today announced it is fully operational in Bermuda and open forbusiness. The new wholly-owned Bermudan insurance company has US $500 million ofcapital in place. Hiscox Bermuda will underwrite a balanced portfolio ofcatastrophe reinsurance and internal group reinsurance. The Bermudan operation is staffed by a team transferred from head office inLondon. Hiscox plan to write US $325 million business in Bermuda next year. Thisis in addition to the US $1.7 billion in business the Hiscox Group will write in2006. Hiscox Bermuda Chief Executive, Robert Childs said. "We have a professional,experienced team on the ground in Bermuda with a proven track record and we arealready seeing submissions from the reinsurance broking community. This is anew, exciting initiative for Hiscox." For further information: Hiscox BermudaRobert Childs Chief Executive 020 7448 6006 Kylie O'Connor Communications Manager 020 7448 6656 Notes to editors Hiscox plc is a specialist insurance group listed on the London Stock Exchangewhere it has a market capitalisation of circa £580million. There are three mainunderwriting parts of the Group - Syndicate 33 at Lloyd's of London, 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 licences of Lloyd's.The UK Retail business offers a wide range of specialist insurance forprofessionals and business customers, as well as high net worth individuals.Hiscox has offices throughout the UK in Birmingham, Bristol, Colchester,Glasgow, Leeds, London and Maidenhead. Hiscox's international offices arelocated in Amsterdam, Bermuda, Brussels, Dublin, Guernsey, Madrid, Munich andParis. 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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