Earnings per share declined to 67.2 cents from 75.1 cents, but the interim dividend rose 9.1% year-on-year to 14.4 cents per share
LONDON: Hiscox Ltd reported robust interim results for the six-month period ended June 30, 2025, marked by broad-based growth, strong profitability, and enhanced book value creation.
The insurer posted a 5.7% increase in insurance contract written premium (ICWP) to $2.94 billion, up from $2.78 billion in H1 2024, with all three business segments contributing to the growth.
The Group’s undiscounted combined ratio stood at 92.6%, slightly higher than last year’s 90.4%, driven by margin expansion in Hiscox Retail and continued underwriting profits in Hiscox Re & ILS, despite absorbing losses from California wildfires. Hiscox London Market delivered its fifth consecutive combined ratio in the 80s.
Investment income surged to $234.9 million from $152.4 million, reflecting higher coupon earn-through and fair value gains. Adjusted operating profit before tax was $262.0 million, down from $288.1 million a year earlier, while operating return on tangible equity (ROTE) came in at 14.5%.
Earnings per share declined to 67.2 cents from 75.1 cents, but the interim dividend rose 9.1% year-on-year to 14.4 cents per share. The company also increased its ongoing share buyback program by $100 million to $275 million, citing strong organic capital generation and balance sheet efficiency.
“We have delivered a strong performance in the first half with profitable growth in each of our businesses,” said Aki Hussain, Group CEO. “Our diversified business model and quality underwriting ecosystem are reflected in our results. We remain well-positioned to accelerate Retail growth and reward shareholders.”
Hiscox’s net asset value per share rose to 1,133.3 cents, up from 989.0 cents in H1 2024, underscoring continued book value creation.