- Rate growth looks strong
- Return on equity needs a boost
A year of natural and manmade disasters did not seem to knock Lloyd’s syndicate insurer Hiscox (HSX) off its stride as the group’s combined ratio hovered around 90 per cent, despite absorbing £74mn of total losses relating to hurricane Ian and the war in Ukraine. Combined with a January renewals season that looks to have been positive for the year ahead, with net premiums up by 49 per cent, the insurer looks reasonably well placed to weather whatever storms (literally, rather than figuratively) lie ahead. The first major change will be to appoint a new chairman after the retirement of Robert Childs after 37 years at the company.