Hiscox reports 11% retail premium growth in third quarter

Hiscox Ltd (LSE:HSX) reported insurance contract written premiums growth of 9% for the nine months ended September 2026, with third quarter retail growth accelerating to 11%, the company said in a trading update.

The insurer maintained its full-year guidance of 9% growth for its retail division. Nominal rates remained unchanged at 1% from the first half of the year.

The company’s specialty division showed mixed results. London Market insurance contract written premiums grew 10% in the nine-month period, maintaining the same pace in the third quarter. The reinsurance segment saw net premiums contract by 8% during both periods.

Risk-adjusted rates declined 5% for London Market and 14% for reinsurance, compared to decreases of 5% and 16% in the first half.

Investment returns reached 1.2% for the nine months, down from 1.4% at the half-year mark. The bond portfolio reinvestment yield improved to 5.1% from 4.4% previously, while asset duration held steady at 2.0 years.

The company said its loss experience in the third quarter fell within expectations. Marine losses related to the Middle East conflict were more than offset by a benign natural catastrophe experience in its Big-Ticket business. Retail losses aligned with forecasts.

Hiscox maintained its guidance for savings and costs of $75 million each for the full year under its change program.

As of October 30, the company completed $242 million of its $300 million share buyback program. Net proceeds of £50 million from a bond issuance are not eligible for solvency capital.