Hiscox reports strong results for Syndicate 33 and 6104

International specialist insurer Hiscox has released the final results for Syndicate 33’s 2022 account and Syndicate 6104’s 2022 and 2020 accounts, as well as current estimates for both syndicates’ 2023 and 2024 accounts, of which the latter includes preliminary loss estimates stemming from the January 2025 Los Angeles wildfires.

For the 2022 year of account, Syndicate 33 generated a return of 12.5% on its capacity of £1.699 billion – of which Hiscox held a 73% share – and which is above the mid-point of the previous estimate of between 6.4% to 16.4%.

Syndicate 6104, for the 2020 year of account, closed with a return of 47% on its £44 million capacity, which is above the previous estimate of between 34.2% to 44.2%.

For the 2020 year of account, Syndicate 6104 closed with a return of 36.9% on its £13 million capacity, which is also above the previous estimate of between 21.8% to 31.8%.

The most recent estimates Hiscox has released for the 2023 year of account for Syndicate 33 are between 10.4% to 20.4% of £1.699 billion in capacity – of which the insurer’s share remains at 73%. This range is an increase compared to the previous estimate of 7.9% to 17.9%.

The 2024 forecast for Syndicate 33 anticipates a range of 3.0% to 13.0% of £1.699 billion in capacity – with Hiscox again holding a 73% stake.

Syndicate 6104’s 2023 forecast has been adjusted higher to 27.7% to 37.7%, up from the prior estimate of 22.5% to 32.5%, with capacity of £19 million.

The 2024 forecast for Syndicate 6104 currently ranges from 2.5% to 17.5% of the £57 million in capacity.

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