Hiscox Ltd (LSE:HSX) reported a 10% increase in insurance contract written premiums for the first quarter of 2026, with total premiums reaching $1.72 billion. On a constant currency basis, growth was 7%, reflecting continued expansion across several key business areas.
Retail division leads performance across major markets
The company’s retail business produced particularly strong growth, with premiums rising 15% to $847.2 million, or 8% in constant currency terms. Hiscox UK recorded a 17% increase in premiums to $244.3 million, while Hiscox Europe grew 20% to $328.2 million. Hiscox USA also delivered solid performance, reporting 9% growth to $274.7 million.
Management highlighted continued momentum across its retail operations as demand remained strong in core personal and commercial insurance markets.
London Market and reinsurance operations remain resilient
Hiscox’s London Market division reported premium growth of 4% to $342.8 million, supported primarily by casualty business where pricing conditions remained favourable despite broader softening trends across parts of the insurance market.
Within the Re & ILS division, gross written premiums increased 7% to $527.1 million. However, net written premiums declined 6% as the company reduced net exposure to property catastrophe risks.
Pricing trends varied across the group during the quarter. Retail lines recorded average rate increases of 2%, while London Market pricing declined by 4% and Re & ILS rates fell by 13%.
Investment portfolio remains stable
Hiscox ended the quarter with invested assets of $9.3 billion, carrying an average duration of 2.0 years and maintaining an A credit rating profile. The company generated an investment return of $34.1 million during the period, equivalent to a positive year-to-date return of 0.4%.
More about Hiscox
Hiscox Ltd is an international specialist insurer operating across retail insurance, London Market underwriting and reinsurance. The company provides a range of products covering commercial, property, casualty and specialty risks, serving businesses and individuals across the UK, Europe, the United States and international markets.
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