Hiscox Group has reported results for the year to 31 December 2020. The full results are available here.

The group has also released results and forecasts for its managed syndicates as follows.

Syndicate 33

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

1,598,258

0.1% profit

-7.0% to 3.0%

2.1 points better

2019

1,399,156

-11.5% to -1.5%

-13.0% to -3.0%

1.5 points better

2020

1,700,000

-7.0% to 3.0%

n/a

 

SPA 6104

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

55,847

-48.8% loss

-54.0% to -44.0%

0.2 points better

2019

54,971

-30.5% to -20.5%

-41.0% to -32.0%

11 points better

2020

44,497

-28.5% to -16.5%

n/a

 

Note that there is no obligation on managing agents to release forecasts for the youngest open year until the fifth quarter of development, and Hiscox is the only managing agent that does so. The first formal forecasts of the 2020 account will be available in May. Much business remains on risk, but the underwriting year bears the impact of the series of hurricanes to make landfall in the USA last year, including Isaias, Laura, Sally, Delta, Epsilon, Zeta and Eta as well as a derecho in the state of Iowa. A part of the losses relating to Covid-19 falls to the 2020 year of account.

Although there are a small number of results outstanding, this completes the results for the vast majority of Argenta’s clients. A summary of results and updated forecasts is available here. Syndicate results and forecasts are expressed as a percentage of allocated capacity and are after all standard personal expenses but before members’ agents’ fees.

Lloyd’s will release aggregate results for the market on 31 March.