Hiscox to hike dividend payouts by 20% as sets out plans for growth
Hiscox Ltd on Thursday outlined its plans for growth in the year ahead and announced a hike in its dividend payouts, as the firm holds its capital markets day.
The Hamilton, Bermuda-based business insurer said it aims to reach double-digit premium growth within its Retail division in 2028, by ‘continuing to take share in each of our sizeable serviceable addressable markets’.
The firm also intends to implement a range of initiatives, such as cost-cutting measures and operating leverage, that will enable Hiscox to deliver an annualised profit and loss benefit of $200 million in 2028 and onwards.
The majority of this benefit will be recognised within its Retail arm, and will drive Retail margin improvement while continuing to invest in growth.
In addition, Hiscox has planned a 20% hike in its final dividend for 2025, with a progressive dividend per share from then on. This follows a 15% increase in its dividend in 2024.
For its interim dividend, the firm will pay one-third of the prior year’s total dividend.
Its overarching strategy is to ‘deliver attractive and sustainable returns for shareholders through the substantial opportunities available through our diversified business model, highly differentiated exposure to specialty markets and our specialist technical capabilities’, said Hiscox.
Shares in Hiscox were up 4.2% at 1,244.00 pence each in London on Thursday afternoon. The stock has risen 6.8% over the past year.
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