**Summary of Hiscox Ltd Interim Results for H1 2025**
Hiscox Ltd reported strong interim results for the first half of 2025, highlighting broad-based growth, robust profitability, and increased book value. Key financial highlights include
**Insurance Contract Written Premium (ICWP):** Grew by 5.7% to $2,941.6 million, driven by growth across all business segments, with Retail contributing the majority.
**Net Insurance Contract Written Premium (NICWP):** Increased by 6.2% to $2,125.2 million.
**Profit Before Tax** Slightly decreased to $276.6 million from $283.5 million in H1 2024.
**Earnings Per Share (EPS)** Declined to 67.2 cents from 75.1 cents in H1 2024.
**Interim Dividend Per Share** Increased by 9.1% to 14.4 cents.
**Net Asset Value (NAV) Per Share** Rose to 1,133.3 cents from 989.0 cents in H1 2024.
**Operational Highlights**
**Retail Segment** ICWP grew by 6.0% to $1,386.6 million, with all markets contributing to growth. The undiscounted combined ratio improved to 92.7%, and the segment remains on track to exceed 6% growth for the year.
**London Market** ICWP increased by 3.0% to $667.7 million, with a strong undiscounted combined ratio of 87.9%.
**Re & ILS** Net ICWP grew by 7.9% to $411.4 million, despite the impact of California wildfires.
**Strategic Initiatives**
**Technology Investment** Rolled out AI-enhanced underwriting tools, expanded digital distribution, and launched new products like a high-value household product on e-trade.
**Claims Improvement** Enhanced fraud detection capabilities, leading to material savings.
**Procurement Optimization** Reduced supplier numbers from 10,000 to under 4,000, achieving cost savings through consolidation and volume discounts.
**Operational Excellence** Launched a Group transformation office with 18 workstreams, including a new data-driven talent acquisition service and Hiscox academies for skill development.
**Capital Management**
Increased the ongoing share buyback program by $100 million to $275 million, reflecting strong organic capital generation.
Maintained a strong balance sheet with a Bermuda Solvency Capital Ratio (BSCR) of 239%.
**CEO Commentary**
Aki Hussain, Group CEO, emphasized the company’s successful execution of its strategy, with profitable growth across all businesses. He highlighted the Retail segment’s momentum, the resilience of the diversified business model, and the commitment to returning capital to shareholders through dividends and buybacks.
**Outlook**
Hiscox expects continued momentum in Retail, selective capital deployment in big-ticket businesses, and sustained focus on profitable growth. The company reaffirmed its full-year Retail growth guidance of over 6% in constant currency.
Overall, Hiscox demonstrated resilience and strategic progress in H1 2025, positioning itself for continued growth and shareholder value creation.