Hiscox Ltd (LSE:HSX) shares rose 8.4% after the insurer reported a solid set of interim results and added $100 million (£75 million) to its share buyback programme.
Chief executive Aki Hussain said that the first half saw profitable growth in all of the group's businesses, with strong organic capital generation and capital management actions providing the means to increase the ongoing share buyback from $175 million to $275 million.
The interim dividend was also increased 9.1% to 14.4 cents per share.
For the six months to 30 June 2025, the FTSE 100-listed group increased written premiums 5.7% to $2.9 billion.
Profit before tax came in at $276.6 million, 2.4% below the prior year, despite the impact of the largest wildfire insurance event in industry history.
The investment result rose to $234.9 million, up from $152.4 million.
Net asset value per share climbed to 1,133.3 cents, from 989.0 cents a year earlier.
The company reported an undiscounted combined ratio of 92.6%, with margin expansion in its Retail division and continued underwriting profits across its London Market and Re & ILS (reinsurance and insurance-linked strategy) units.