Insights
Hiscox 3Q25 trading statement
Posted 06/11/2025 – Insights
Hiscox plc has released its trading statement for 3Q25 ending 30th September 2025
Main highlights
- Group insurance contract written premiums (ICWP) increased by 5.9% to $4,053m (Q3 2024: $3,826m).
- Investment return of 4.2% year to date (Q3 2024: 4.3%).
- Hiscox continues to develop its IT systems, and the group is on track to deliver a $25m reduction in operating costs for the year.
Aki Hussain, Chief Executive Officer, commented:
“Our diversified business model and distribution platforms provide access to growing markets in Retail and attractive high-quality growth opportunities in big-ticket. The Hiscox Group continues to successfully execute its strategy, capturing these opportunities with market-leading products and excellence in customer service, underpinned by our specialist expertise. In big-ticket, we are managing the cycle with our customary discipline as competition increases in some classes of business. In Retail, our multi-year growth and margin expansion continues, as we deliver compounding growth through the cycle.”
Hiscox London Market highlights
- ICWP grew by 2.5% to $956m (Q3 2024: $932m)
- Year to date rate decrease of -4%, with cumulative rate increase since 2018 of 67%.
- The division continues to manage the competition in the market and grow in attractively priced classes with Hiscox’s innovative products.
Hiscox Re & ILS highlights
- ICWP grew by 7.0% to $526m (Q3 2024: $491m)
- Year to date rate decrease of -5%, with cumulative rate increase since 2018 of 83%.
- Attachment points and terms and conditions are broadly holding firm.
Claims
- Claims within expectations for the third quarter and a relatively benign loss experience from natural catastrophes
Alpha comment
This is another strong set of quarterly results from Hiscox. Cycle management continues to be a key consideration for the group and despite rate decreases within Hiscox London Market and Hiscox Re & ILS, cumulative rate increases since 2018 remain very strong. The investment in operational efficiency and IT development seems to be beneficial to the expense ratio. Should the last quarter of the year develop as expected, we would expect positive initial forecasts for both 33 and 6104 for the 2025 year of account, reported at the twelve months stage in March.
