Hiscox Ltd - Update on dividend payment and guidance
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 (MAR)
FOR IMMEDIATE RELEASE
Update on dividend payment and guidance
Hiscox's capital, liquidity and funding positions remain strong. Trading across the Group for the first two months of the year was ahead of expectations, however in view of the uncertain impact of COVID-19 on the global economy, the Group is unable to accurately forecast the outlook for 2020. As such, we are withdrawing all financial guidance for 2020 until there is more clarity. We remain confident in our ability to return to our normal 90-95% combined ratio target range for the Retail business in 2022.
We remain focused on supporting our customers, employees and other stakeholders through this crisis.
For further information:
Simone Selzer +44 (0)20 7404 5959
Notes to the Editor:
1. Executive Director bonuses will not be paid until the dividend has resumed. As previously announced, Executive Directors were not eligible for a bonus for 2019 as ROE was below performance threshold level.
2. About the
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
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Market Cap: £2.48 billion
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