2024 Preliminary Results
For the year ended
"Record profits, building momentum in Retail, and step-up in capital return."
2024 | 2023 | |
Insurance contract written premium1 | ||
Net insurance contract written premium1 | ||
Insurance service result | ||
Investment result | ||
Profit before tax | ||
Earnings per share2 | 183.2¢ | 162.7¢ |
Total dividend per share | 43.1¢ | 37.5¢ |
Net asset value per share1 | 1,086.4¢ | 951.1¢ |
Group combined ratio (discounted)1 | 84.7% | 85.5% |
Group combined ratio (undiscounted)1 | 89.2% | 89.8% |
Retuon equity (ROE)1, 2 | 19.8% | 21.8% |
Positive prior year development1 | ||
225% | 212% |
Highlights
- Insurance contract written premium (ICWP) grew by 3.7% or
$168.7 million to$4,766.9 million (2023:$4,598.2 million ), driven by Retail premium growth of$147.3 million . - Disciplined underwriting in an active loss environment resulted in an undiscounted combined ratio of 89.2% (2023: 89.8%).
- Solid investment result of
$383.9 million (2023:$384.4 million ). - Record profit before tax of
$685.4 million , up 9.5% year-on-year, and ROE of 19.8% (2023: 21.8%2). - Step-up in final dividend per share of 19.6%, with a full year increase of 14.9% in dividend per share, as well as a new special capital retuof
$175 million in the form of a buyback. - Hiscox to hold a capital markets day on
22 May 2025 .
"The Group has delivered another set of excellent results and a second consecutive year of record profits. Our Retail business continues to build broad-based growth and earnings momentum, and our big-ticket portfolio has again delivered an outstanding performance, leading to a strong retuon equity in an active loss year. This earnings momentum underpins substantial capital generation, creating the flexibility to pursue multiple growth opportunities and retu10%[4]of equity to shareholders through a combination of a 20% step-up in the final dividend per share and a
ENDS
[1]Alternative performance measure definitions used by the Group are included within the consolidated financial statements.
[2]2023 excluding
[3]Estimated for 2024.
[4]Total estimated cost of returns (interim dividend, final dividend and
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About
Hiscox is a global specialist insurer, headquartered in
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visitwww.hiscoxgroup.com.
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