Retail aids first quarter growth at Hiscox with savings plan on track

Hiscox Ltd on Thursday said the outlook for 2026 is ‘positive’ as it reported accelerating growth in its retail business.

Shares in the Bermuda-based insurance provider were up 5.6% at 1,636.27 pence each in London on Thursday, leading the gainers on the FTSE 100 which was down 0.4%.

Insurance contract written premiums increased by 10% to $1.72 billion in the three months to March from $1.56 billion a year ago, driven by ‘accelerating momentum in Retail and disciplined growth in big-ticket.’

Retail ICWP increased by 15% or 8.0%, in constant currency, in line with full year guidance, with growth stepping up in each of the businesses.

Hiscox UK ICWP firmed by 8.9% in constant currency underpinned by increased production from distribution deals, brand investment and deepening sector specialisms.

Hiscox Europe ICWP improved by 6.8% in constant currency, with sustained strong growth in Germany and France, its two largest markets.

Hiscox US ICWP increased by 8.5%, while Hiscox London Market grew by 4.0%.

Chief Executive Aki Hussain said: ‘Hiscox is building on strong momentum delivered in 2025, through capturing diverse, high-quality growth opportunities across each of our businesses.’

Hussain highlighted accelerating growth in retail and said it has ‘proactively’ managed the softening cycle in ’big ticket’, the company’s high-value, specialised insurance and reinsurance business.

‘With our sharp focus on profitable growth and good progress on the change programme objectives, the outlook for 2026 is positive,’ the CEO added.

Hiscox said its change programme ‘continues at pace’ and it remains on track to deliver $75 million profit and loss benefit in 2026, heading towards the target of $200 million annual P&L benefit in 2028 and beyond.

Loss experience in the first quarter has been within expectations as a benign natural catastrophe environment offset the estimated impact of the Middle East conflict in the period, it added.

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