Hiscox (LSE:HSX) today issued a Q1 2026 trading statement showing group insurance contract written premiums (ICWP) rose 10.2% to $1,717.1 million and that Hiscox Retail grew 8.0% in constant currency, which it says is in line with its full‑year guidance.
Retail momentum accelerated across the UK, Europe and US, with Hiscox Retail ICWP at $847.2 million, Hiscox UK up 8.9% to $244.3 million, Hiscox Europe up 6.8% to $328.2 million and Hiscox USA up 8.5% to $274.7 million, while Hiscox London Market grew 4.0% and Hiscox Re ICWP rose 7.1% to $527.1 million as net ICWP fell 5.6% to $209.7 million.
The investment result was $34.1 million, a year‑to‑date return of 0.4% that includes $69.6 million of unrealised fair value losses on fixed income securities excluded from adjusted operating profit and expected to unwind as the bonds mature, with group invested assets of $9.3 billion and a bond reinvestment yield of 4.4%.
The change programme is on track after transferring finance processes to an outsourcing partner and consolidating data centre and cloud services under a single provider, and the Group says it remains on track to deliver a $75 million P&L benefit in 2026 towards a $200 million annual benefit by 2028.
Loss experience in Q1 was within expectations as a benign natural catastrophe environment offset estimated impacts from the Middle East conflict, with a small number of claims primarily in Hiscox London's K&R and WTPV books and the launch of a sidecar plus ILS AUM rising to $2.4 billion supporting capacity.
Capital management remains robust, with 2.6 million shares repurchased for approximately $54.5 million under the $300 million buyback announced on 25 February and the Group describing itself as well‑capitalised with high liquidity.
"With our sharp focus on profitable growth and good progress on the change programme objectives, the outlook for 2026 is positive," Aki Hussain, Chief Executive Officer, said.
