Hiscox Ltd (OTCPK:HCXLY)

$ 27.5 0.99 (3.73%) Market Cap: 4.62 Bil Enterprise Value: 3.91 Bil PE Ratio: 6.75 PB Ratio: 1.42 GF Score: 57/100

Half Year 2023 Hiscox Ltd Earnings Call Transcript

Aug 09, 2023 / 09:30AM GMT

Release Date Price: $27.59

Transcript

Hamayou Akbar Hussain

Hiscox Ltd - Group CEO & Executive Director

Okay. Good morning, everyone, and thank you for joining us today as we present our interim results. I'm pleased to report growth in revenues and profits in every business with our focus on quality of growth and earnings. We've maintained our commitment to disciplined underwriting and delivered an insurance service result of $221 million. That's an increase of 58%. And this, combined with much improved investment income means we've achieved a near tenfold increase in our pretax profits.

Now in our big ticket segments against the backdrop of favorable market conditions, our focus has been on effective cycle management. And in this phase of the cycle, we've increased our capital allocation to these segments. And in turn, London market and Re & ILS have achieved strong growth in premiums and profits. And in retail, we're growing in every market and achieving sustained profitability in line with our operating framework.

The group financial foundations remain robust with continued strong capital generation and a

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