A.M. Best Affirms Credit Ratings of Hiscox Ltd and Its Subsidiaries
Concurrently,
The ratings reflect Hiscox’s consolidated balance sheet strength, which
Hiscox’s balance sheet strength is underpinned by consolidated risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio. The balance sheet strength assessment also factors in the group’s good financial flexibility and strong liquidity profile. Hiscox has a strong earnings track record, as demonstrated by a five-year weighted average combined ratio of 85% (2012-2016) and an average return on equity of 16% over the same period.
Hiscox benefits from good product and geographical diversification and strong brand recognition in key markets. The group continues to increase the proportion of more stable retail business in its portfolio as a response to the challenging market environment for London Market insurance and reinsurance business, which is characterised by abundant capacity and strong competitive pressures from both traditional and alternative markets.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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