Hiscox lifts return estimates for syndicates 33 and 6104

International specialist insurer Hiscox has disclosed current estimates for Syndicate 33’s and Syndicate 6104’s 2023 and 2024 accounts.

For the 2023 year of account, Hiscox now estimates that Syndicate 33 will generate a return of 12% to 22% on its capacity of £1.699 billion, of which Hiscox holds a 73% share. This is higher than the previous estimate range of 11.3% to 21.3%.

For the 2024 year of account, Syndicate 33 is expected to generate a return of 1.7% to 13.7%, again higher when compared to the previous estimated range of 0.9% to 13% on its capacity of £1.699 billion, of which Hiscox holds a 73% share.

Syndicate 6104 in the 2023 year of account is now estimated to generate a return of 38.5% to 48.5% on its capacity of £19 million, compared to the previous range of 29.7% to 39.7%.

Meanwhile, for the 2024 year of account, Syndicate 6104 is estimated to produce a return in the range of 5.3% to 22.8% on the capacity of £57 million. This compares to the earlier estimated range of 2.1% to 17.1%.

It should be noted that Hiscox, as a company, does not hold any ownership in Syndicate 6104.

Hiscox explained, “The Syndicates’ estimates are after standard personal expenses, such as Managing Agent fees and profit commission, and all charges levied directly on syndicates by Lloyd’s, but before Members Agents’ charges.”