Hiscox has released the latest results and forecasts for its flagship Lloyds syndicate, predicting returns for the 2025 financial year of 3.5% to 13.5% for Syndicate 33 and significantly higher returns for Syndicate 6104 of 23.2% to 33.2%.
Syndicate 6104’s strategic expansion complements the positive outlook for the 2025 account, with capacity increasing to £79m by 2025, a fourfold increase from the £19m deployed in 2023.
Hiscox also raised its 2024 forecast, raising the Syndicate 33 forecast range by a full percentage point to 3.4%–15.4%. Likewise, Syndicate 6104’s forecast has been revised upward, with the upper limit rising from 25% to 25.3%.
The update concludes with the final close of 2023 accounts, with Syndicate 33 ending the year with a strong 19.1% capacity return.
However, Syndicate 6104 performed well, with a closing profit of 51.7%, exceeding the upper end of previous guidance.
In related news, Hiscox Re, the specialty insurer’s reinsurance business and third-party capital platform, recently disclosed that its 2025 pre-tax profit was $286.7 million, up 7% from the previous year, and the unit’s undiscounted combined ratio rose to 67.4%.
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