ANALYST VIEWS DO HISCOX’S RESULTS POINT TO LONG-TERM GROWTH?
SARAH LEWANDOWSKI PEEL HUNT
Hiscox has provided a steady update with disciplined growth evident throughout the business segments. Interestingly, some reinsurance capacity was withheld at the start of the year, in anticipation of better rates and terms later in the year. HOLD.
JOY FERNEYHOUGH EXECUTION NOBLE
Management look to have been aggressive in their portfolio management, as they were in 2011, highlighting their ability to be nimble and opportunistic both in and out of businesses when rates move. We expect Hiscox to continue to outperform peers. BUY.
MARCUS BARNARD ORIEL
Whilst we note the company is well managed and has a strong track-record of organic growth, we feel it is least exposed to rising catastrophe rates of the Lloyd’s insurers and that the high net worth retail clients they target for growth shall increasingly self-insure. REDUCE.