The Hiscox Ltd Board recommended a final dividend of 25.0¢ per share to be paid, subject to shareholder approval, on 12 June 2024 to shareholders registered on 3 May 2024. Dividends will be paid in Sterling unless shareholders elect to be paid in US Dollars. The foreign exchange rate to convert the dividends declared in US Dollars into Sterling will be based on the average exchange rate in the five business days prior to the Scrip Dividend price being determined. On this occasion, the period will be between 21 May 2024 and 28 May 2024 inclusive.
Other Financial Highlights Include:
- Net insurance contract written premium (net ICWP) grew by 10.7% in constant currency to $3,555.8 million (2022: $3,225.5 million)
- Record profit before tax of $625.9 million (2022: $275.6 million), underpinned by:
- a 36.4% increase in the insurance service result at $492.3 million (2022: $360.9 million)
- a record net investment income of $384.4 million (2022: loss of $187.3 million)
- Undiscounted combined ratio of 89.8% (2022: 91.1%)
- Group ROE of 21.8%
- $150 million buyback, with pro-forma BSCR post ordinary final dividend and capital return of 200%
- Strong start to 2024 across all business segments
