Hiscox

Hiscox Ltd. is a global specialty insurer and reinsurer, headquartered in Bermuda and listed on the London Stock Exchange. Its reinsurance arm, Hiscox Re & ILS, reported a 2024 pre-tax profit of $267 million.

History of Hiscox Ltd.

Hiscox began in 1901 as a marine underwriter at Lloyd’s of London. While its reinsurance and insurance-linked strategy division, Hiscox Re & ILS, officially formed in 2013.

The broader milestones from Hiscox’s corporate history include:

• 1946: formed Roberts & Hiscox partnership to manage Lloyd’s syndicates
• 1967: Ralph Hiscox elected chair of Lloyd’s; son Robert joins Syndicate 33
• 1987: established Hiscox Holdings Ltd. as group holding company
• 1997: listed on the London Stock Exchange main market
• 2005: opened Bermuda office, expanding reinsurance and retail operations
• 2008: launched Special Purpose Syndicate 6104 with third-party capital
• 2009: rebranded as Hiscox Ltd. after redomiciling to Bermuda
• 2013: launched Hiscox Re as a standalone reinsurance business unit
• 2017: Hiscox Re rebrands to Hiscox Re & ILS
• 2024: launched CyberShock, a cyber catastrophe consortium

Hiscox Ltd. also supported Coterie, a digital managing general agent (MGA) focused on small business insurance, as it raised $27 million in new funding. In recent years, Hiscox Re & ILS has grown with new leadership and product innovation.

Reinsurance products and services

Hiscox Re & ILS brings together expert underwriters, analysts, and claims specialists to solve complex reinsurance needs:

• property reinsurance: global cover for natural disaster and commercial property risk
• risk XL: excess of loss protection for high-value insured losses
• retrocession: reinsurance for reinsurers, offering broader capital and risk transfer
• marine and aviation reinsurance: treaty coverage for cargo, hull, and aviation exposures
• specialty reinsurance: covers niche or hard-to-place risks across various sectors
• cyber reinsurance: protection for cyber-related losses and systemic digital threats

These solutions are built to adapt to changing risks and global market needs. The team is always ready to dig deeper, rethink the issue, and deliver a smarter fix.

Culture and core values

Hiscox Ltd. builds its culture on respect, empowerment, and making room for fresh ideas. Everyone is encouraged to lead with purpose and grow their impact within the business.

The company follows five core values that shape its goals and everyday decisions:

1. courage: encourages smart risk-taking and rewards bold thinking
2. human: supports fairness, inclusion, and respect for individual ideas
3. ownership: values accountability, passion, and commercial thinking
4. integrity: promotes honesty and choosing what’s right, even when it’s tough
5. connected: focuses on teamwork and building stronger outcomes together

These values help build trust, drive progress, and support a strong and lasting business.

Community impact and outreach

Hiscox Ltd. believes success includes giving back and making a real difference in people’s lives. The company supports local projects that build stronger communities and better futures for others:

• youth cricket: under-11 and under-8 Bermuda team sponsorship
• reef education: Kids on the Reef ocean and diving program
• elder care: Bermuda Housing Trust support for senior rentals
• student aid: post-secondary scholarships through ABIC and Alpha Beautillion
• clean environment: Keep Bermuda Beautiful and Adopt an Area efforts
• health causes: Action on Alzheimer’s fundraising by Hiscox Re & ILS
• youth support: Caines Brothers, Family Centre, P.A.L.S and Big Brothers Big Sisters
• food access: Eliza Dolittle Society community support work

Employees are encouraged to give their time to these causes. Many volunteer during work hours to support schools, clean beaches, and help where needed.

Life at Hiscox Ltd.

People often say the team is what makes the firm special. Employee networks like Women at Hiscox and WeMind help build connection and support. From innovation sessions to charity drives, there’s always a way to join in.

Hiscox Ltd. also supports local groups and global causes through hands-on giving and partnerships. More than 180 charities have received help from Hiscox through donations and outreach. That includes digital tools for Bermuda students and career mentoring for London youth.

The future at Hiscox Ltd.

Hiscox Re shared insights into the thinking behind CyberShock, its new cyber catastrophe consortium. Developed with Ariel Re, the solution brings $50 million in dedicated cyber capacity per program. The move shows Hiscox Re & ILS’ ongoing focus on shaping better coverage for digital threats.

Hiscox Ltd. posted $492 million in reinsurance premiums for Q1 of 2025. Its reinsurance arm saw smart growth in net premiums despite softening market conditions. The firm continues to attract quota share backing while keeping strong underwriting discipline in place.