JOY FERNEYHOUGH | ESPIRITO SANTO
Its discipline at 1 January when rates were falling should afford Hiscox greater flexibility to grow into more attractive areas post-Japan. With the UK business strengthening and the market turn in catastrophe business expected, we see both sides of its business being able to drive increased profitability.
SARAH LEWANDOWSKI | PEEL HUNT
Hiscox sounds optimistic on the rating outlook, expecting rate increases to become widespread. Underwriting remains disciplined, so it is well placed to take advantage of rising reinsurance rates. We have not assumed rate rises ahead of the June/July renewals and our forecasts could be revised upwards.
NICK JOHNSON | NUMIS
Hiscox is well positioned to benefit from reinsurance rate rises. A disciplined pull-back in first-quarter exposure means it has capacity in hand to take advantage of potential opportunities. The group sees increases of ten per cent plus for US catastrophe business in the June/July renewal season.