Capital return
Capital return of 50.0p per share, approximately £178 million, by way of C/D share scheme combined with share consolidation
Includes final dividend equivalent of 14.0p taking total dividend for the year to 21.0p, an increase of 16.7% (2012: 18.0p)
Additional special distribution of 36.0p per share.
Highlights
Gross written premiums grew by 8.5%.
Hiscox London Market delivered excellent profit of £116.0 million (2012: £121.9 million)
Hiscox UK provides another solid performance, with profits of £45.4 million (2012: £45.2 million)
Hiscox Europe returns record profits of £10.9 million (2012: £3.9 million)
Hiscox USA continues good premium growth, up by 31.1% to £189.5 million (2012: £144.5 million)
Formed Hiscox Re, our combined reinsurance teams in London, Paris and Bermuda
Bronek Masojada, Chief Executive of Hiscox Ltd, commented:
"2013 was a very good year for Hiscox. Our long term strategy of building local retail businesses in Europe, the UK, Guernsey and the US to balance internationally traded business in London and Bermuda continues to deliver. We are excited about the opportunities we see in many retail markets where we have room to grow profitably. In our big ticket areas, discipline and opportunism will guide us."
