19th Dec 2005 07:00
Hiscox PLC19 December 2005 For immediate release19 December 2005 Hiscox Ratings from A.M. Best A.M. Best Co. has awarded Hiscox Insurance Company (Bermuda) Limited ("HiscoxBermuda") a financial strength rating of A- (Excellent) with a stable outlook.A.M. Best also affirmed the A- (Excellent) rating for the Hiscox InsuranceCompany Limited and awarded Hiscox Syndicate 33 at Lloyd's an A (Excellent)syndicate rating. The A.M. Best rating for Hiscox's new entity in Bermuda was granted on thestrength of Hiscox Bermuda's 'excellent' capitalisation and 'excellentprospective underwriting results' and the 'Hiscox group's strong businessprofile'. Bronek Masojada, Chief Executive of Hiscox commented: "We set out to achieve anA- (Excellent) rating for Bermuda and I am pleased we have been able to do thisin less than two months. We can now take full advantage of the renewal season.Our Bermudan business complements the work we are doing in the Insurance Companyand at Lloyd's and the ratings reflect this." ENDS For more information: Hiscox plcBronek Masojada Chief Executive 020 7448 6012 Rebecca Olejnik Corporate Communications 020 7448 6332 Hiscox BermudaRob Childs Chief Executive +1 (441) 278 8310 The Maitland ConsultancySuzanne Bartch 020 7379 5151 Notes to editors Hiscox plc is a specialist insurance group listed on the London Stock Exchangewhere it has a market capitalisation of circa £850 million. There are four mainunderwriting parts of the Group - Syndicate 33 at Lloyd's, UK Retail,International Retail and Bermuda. Syndicate 33 underwrites mainlyinternationally traded business in the London Market - generally large orcomplex business which needs to be shared with other insurers or needs theinternational licences of Lloyd's. The UK Retail business offers a wide range ofspecialist insurance for professionals and business customers, as well as highnet worth individuals. It has regional offices in Birmingham, Bristol,Colchester, Glasgow, Leeds, London and Maidenhead. The International Retailbusiness has offices in Amsterdam, Brussels, Dublin, Guernsey, Madrid, Munich,New York and Paris. The European offices write mainly high value householdbusiness and some specialist professional indemnity business. The Guernseyoffice underwrites kidnap and ransom business and fine art. Hiscox Bermudawrites a wide spread of US and international property reinsurance business and anumber of internal Hiscox Group reinsurances. For further information, go towww.hiscox.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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