Operational highlights
For the year ended 31 December 2023
- Net insurance contract written premium (net ICWP) grew by 10.7% in constant currency to $3,555.8 million (2022: $3,225.5 million).
- Record profit before tax of $625.9 million (2022: $275.6 million), underpinned by:
- a 36.4% increase in the insurance service result at $492.3 million (2022: $360.9 million); and
- a record net investment income of $384.4 million (2022: loss of $187.3 million).
- Undiscounted combined ratio of 89.8% (2022: 91.1%).
- Group ROE of 21.8%* .
- $150 million buyback, with pro-forma BSCR post ordinary final dividend and capital return of 200%2 .
- Strong start to 2024 across all business segments.
Aki Hussain, Group Chief Executive Officer, Hiscox Ltd, commented:
“Our business has delivered excellent results, with record profits of $625.9 million underpinned by a 36% improvement in the underwriting result and a record investment income. The Group combined ratio below 90% and ROE of 21.8%1 have led to very strong capital generation, which we are deploying for further growth in all parts of the business in addition to a special return to shareholders of $150 million.”
*Excludes impact of Bermuda DTA.
Find out more about our performance over the last five years
