Beazley downgraded after "robust" results season from reinsurers lifts prices
UBS's top picks in the sector are Hannover Re, Munich Re, Hiscox and Lancashire
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LON:HSX
Hiscox Limited is a Bermuda-based specialist insurer company. Hiscox is a holding company for subsidiaries involved in the business of insurance in the United Kingdom and overseas.
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UBS's top picks in the sector are Hannover Re, Munich Re, Hiscox and Lancashire
Space and product recall rates have also hardened significantly over the recent months
The insurer says paying valid business interruption claims as quickly as possible
"We are well-placed to make the most of the best conditions in the London Market in many years"
Supreme court judge Lord Hamblen said the FCA had “substantially” won its case.
“Many businesses are struggling to survive, and holding off payment, at this stage, is morally contestable”
Despite the most active North American wind season on record and another disastrous wildfire season in California, the severity of individual catastrophe events has not reached the levels of the past three years
The test case might suitable for a so-called 'leapfrog' appeal direct to the Supreme Court
Lawyers for the policyholders claimed it a victory and said the ruling opened the way for £1.2bn of compensation claims
After the lockdown hit new retail business in April and May, the insurer said trading improved in June
Hiscox, National Express and Immotion all announced fundraisings on Wednesday
Jefferies upgraded the shares, saying the insurer “stands apart as offering a substantial growth opportunity”
A US$500mln capital raise “may make sense”, analysts said
Shares fell to two-year lows as analysts questioned the insurer's estimates for medium-term underwriting profit
An “active claims environment” caused the insurer to up its reserves “materially in excess” of its catastrophe budget for the second half
"As ever, the results of the half-year are no indication of the results of the full year, so as we approach hurricane season there is still potential for the wind to blow us off course," said Robert Childs, the chairman of Hiscox.
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It will be a busy week for markets with a barrage of corporate earnings and interest rates decisions from the Bank of England and the US Federal Reserve.
Creeping losses are continuing from catastrophe events in last year’s hurricane season, including Typhoon Jebi in Japan and Hurricane Michael in Florida
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The FTSE 250 went the other way and gained over 87 points on Friday