Hiscox

We are all profoundly saddened by the death of our Chair, Jonathan Bloomer, alongside his wife Judy, in the tragic sinking of the Bayesian off the coast of Sicily earlier this week. Jonathan was a well-liked and highly-valued colleague, and he was also a friend. Our thoughts are with his family and loved ones at this difficult time.   Aki Hussain, Hiscox Group CEO: “It was a privilege to have known Jonathan and to have benefitted from his generosity and wisdom over the last year. His deep experience across our industry and in the broader business arena, combined with his personal values, made him both an excellent Chair and a person I was proud to know and work with. His advice and support were immensely valuable to me, and he will be dearly missed.” 

We’re proud to announce that Hiscox’s generative AI-enhanced lead underwriting model enabled by Google Cloud is now live. Following a successful proof of concept, the new underwriting model, the first-of-its-kind in the London insurance market, is now delivering market-leading insurance quote times for sabotage and terrorism risks. Kate Markham, Hiscox London Market CEO, said: “We were really excited by the potential shown by the proof of concept, so to see it now making a tangible impact on our business – starting with sabotage and terrorism – is fantastic. The efficiency delivered is testament to the outstanding collaboration between Hiscox and Google Cloud. It proves that by bringing teams together and harnessing technology, we can deliver tangible benefits for customers, while freeing up our underwriters from manual tasks and allowing them to focus on more complex risks where human expertise is critical.” Read the press release here: https://lnkd.in/ej3PcFie

In the first half of 2024, our business built on momentum from 2023 to deliver strong profits and robust growth. Here are some key highlights from yesterday’s H1 Analyst presentation at the London Stock Exchange from Aki Hussain, Paul Cooper, and Joanne Musselle:   ◽ Premiums increased by $90 million, reaching over $2.8 billion for the first six months of the year, driven by sustained growth in Retail and big-ticket property ◽ Profit before tax rose by over 7% year-on-year to $284 million ROE of 16.5% (H1 2023: 19.9%) ◽ Interim dividend increased by 5.6% For more details please see the full presentation and our results announcement https://lnkd.in/e8hjgmE6.

This morning we announced our H1 2024 results to the market. Thanks to the hard work and commitment of our colleagues across the business, Hiscox has had a strong start to 2024, delivering a $284m profit before tax, a year-on-year increase of 7%; good, steady growth in our retail businesses; and excellent combined ratios in our Big Ticket teams. In the same timeframe we’ve welcomed 250 new colleagues, including our USA CEO Mary Boyd and UK Chief Operating Officer Catherine Frost; reached half a million customers in our UK retail business; and made good progress in underwriting and expense management across the Group. Hear more from our Group CEO Aki Hussain below.

Looking for a new job in #tech, #data and #transformation?   At Hiscox we’re excited to be at the forefront of the tech revolution in the insurance industry. From the way we work inside our business, to the application of #AI to improve the customer experience, we’re always looking for ways to do things better and improve the outcomes for the people who matter – our customers.   That’s why we’re so excited to be expanding our Lisbon Tech Hub, one of our major global tech centres of excellence. Over the coming months we’re looking for 60 new data and technology experts to join our growing team and help us on our mission to do better for everyone, every day.   If you’re a tech or data professional looking to join a growing company where you can drive real change – check out our jobs in Lisbon and around the world here: https://lnkd.in/erui2btQ   #LIfeatHiscox #technologyjobs #datajobs #insurancejobs

According to research published in the journal Nature, 1 in 50 people and 1 in 35 properties from 32 coastal cities in the US could face significant flooding by 2050.   Tom King, Flood Line Underwriter, and Dr Oliver Wing, Chief Research Officer at water and climate risk intelligence provider Fathom, discuss how cities and urban areas need new innovative flood defences to meet the flood risk challenges…

As long-time insurers, supporters, and collectors of art, we’re proud to support the 13th edition of Sculpture in the City in London. It’s an event we’ve been involved in since it began, and while the open-air exhibition officially launches tomorrow, the pieces are already transforming the area’s pavements and public spaces. For more information, including activation events taking place over the summer, go to: https://lnkd.in/gshMCx7   #SculptureintheCity #LifeAtHiscox Image: Jesse Pollock, The Granary Copyright the artist Photo: © Nick Turpin

This month, our Hiscox Ireland Managing Director, Richard O'Dwyer, has been discussing our ambitions in the Irish insurance market and our vision for 2024 and beyond with Irishbroker Magazine. Find out more, including how the team are using technology to improve broker experiences, at: https://lnkd.in/eiiX6av2 #LifeAtHiscox #InsuranceCareers

James Daykin, Hiscox’s newly appointed Marine and Energy Liability Line Underwriter, highlights the importance of expertise, service, and consistency as a market leader… https://lnkd.in/eqHet7-C

Are you heading to the AEGIS Conference in Vancouver from Monday 15th July to Wednesday 17th July? If so, please get in touch with the Hiscox London Market Energy team if you would like to arrange a meeting.