14th Mar 2005 07:01
Hiscox PLC14 March 2005 Syndicate 33 Results and Estimates Hiscox plc, the UK's leading specialist insurer, today releases for Syndicate 33the final result for the 2001 and 2002 years of account. The company alsoannounces its current estimate for Syndicate 33 for the 2003 year of account andan initial estimate for the 2004 year of account. The results for 2001 and 2002 and the estimates for 2003 and 2004, expressed asa percentage of capacity, are as follows: Year of account Final result Previous estimate Capacity Hiscox plc share 2001 (24.0%) (17.5%) to (22.5%) £360m 53% 2002 20.4% 22.5% to 27.5% £504m 55% Current estimate 2003 12.5% to 17.5% 12.5% to 17.5% £842m 65% 2004 5.0% to 12.5% - £846m 65% For further information: Hiscox plcBronek Masojada Chief Executive 020 7448 6012Stuart Bridges Finance Director 020 7448 6013Robert Childs Director of Underwriting 020 7448 6645Fiona Fong Director of Communications 020 7448 6447 The Maitland ConsultancyPhilip Gawith/Suzanne Bartch 020 7379 5151 Notes to editors 1.The Syndicate results and estimates are after standard personalexpenses, such as Managing Agent fees and profit commission and all chargeslevied directly on syndicates by Lloyd's, but before Members Agents' charges. 2.Hiscox plc is a specialist insurance group listed on the London StockExchange where it has a market capitalisation 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 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. Ithas regional offices in Birmingham, Glasgow, Leeds, Maidenhead and Colchester.The International Retail business has offices in Paris, Amsterdam, Munich,Brussels and Guernsey. The European offices write mainly fine art, high valuehousehold business and some specialist professional indemnity business. TheGuernsey office underwrites fine art business and kidnap and ransom. Hiscox isthe largest specialist fine art and high net worth insurer in Europe. Forfurther information, go to www.hiscox.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hiscox