Hiscox maintained its 2024 and 2025 forecasts for its flagship Lloyd’s Syndicate 33, while significantly improving its 2024 outlook for Syndicate 6104, according to its latest fiscal year forecasts.
The Bermuda-based specialty insurer said its current estimate for Syndicate 33’s 2024 account capacity remains between 3.4% and 15.4%, with 2025 account capacity also remaining between 3.5% and 13.5%.
Syndicate 33 is Hiscox’s main Lloyd’s platform, with a capacity of £1.696 billion in 2024 and £1.699 billion in 2025.
The insurer also reported forecasts for Syndicate 6104’s 2024 accounts, revising its capacity forecast to 3.8% to 21.3% from the previous forecast of 7.8% to 25.3%.
The updated guidance shows reduced downside for the special purpose arrangement, which has operating capacity of £56m by 2024.
For the 2025 accounts, Syndicate 6104’s estimates remain unchanged at a capacity utilization rate of between 23.2% and 38.2% of £78m of capacity.
Hiscox confirmed it will not retain its involvement in Syndicate 6104, a project that is fully backed by third-party capital providers.
In related news, Hiscox Re, the reinsurance and third-party capital arm of Hiscox, recently reported insurance contract premiums (ICWP) of $527.1 million in the first quarter of 2026, up 7.1% from $492.2 million in the same period a year ago.
The company said the growth was driven by new third-party capital inflows ahead of renewals in January.
