For the third quarter of 2025, Hiscox reported continued growth across all three business segments, with major gains across its retail division.
The insurance group recorded a 5.9% increase in group insurance contract written premiums (ICWP) to $4,052.9 million for the first nine months of 2025, compared to $3,825.9 million in the same period last year.
Hiscox Retail’s ICWP rose by $137.0 million, or 6.1% in constant currency, reaching $2,013.0 million. The segment has maintained a three-year trend of accelerating growth, with new business expanding at a double-digit rate. Retail rates increased by 2% over the period, and the company expects to deliver growth above 6% in constant currency for 2025.
Earlier in the year, Hiscox reported half-year group gross written premiums up 6.3% to $3.1 billion, with all divisions contributing to growth. The company posted a pre-tax profit of $264.8 million for the period, and its investment return improved to $199.7 million, up from $44.8 million in the previous year.
Hiscox USA’s ICWP rose by 3.5% to $730.0 million. The US digital partnerships and direct (DPD) channel grew by 6.7% to $446.2 million, supported by targeted marketing and enhancements to the customer experience. US broker premiums fell by 1.2% to $283.8 million, attributed to slower new business growth in some classes, though the company anticipates a reversal in the fourth quarter.
Chief executive officer Aki Hussain said the group’s diversified business model and distribution platforms provide access to growth in Retail and opportunities in big-ticket segments.
“The Hiscox Group continues to successfully execute its strategy, capturing these opportunities with market-leading products and excellence in customer service, underpinned by our specialist expertise,” Hussain said.
He added that the company is “on track to deliver accelerated Retail growth in excess of 6% for the year,” and that capital generation remains strong, supported by underwriting performance and favorable loss experience.
The London Market division posted a 2.5% increase in ICWP to $955.7 million. The market remains competitive, especially in property, where rates have declined by 4% year-to-date. Despite this, the portfolio’s cumulative rate has risen by 67% since 2018.
Property business delivered double-digit growth, particularly in US high-net-worth and middle market segments, aided by artificial intelligence capabilities. Casualty saw modest growth, with general liability rate increases offsetting reductions in D&O and cyber exposures.
The marine, energy, and specialty lines secured new business, including a large battery construction project. Crisis management premiums grew in personal accident, while product recall exposures were reduced.
Hiscox Re & ILS reported a 7.0% rise in net ICWP to $525.6 million, with total ICWP up 6.5% to $1,084.2 million. Rates in this segment fell by 5% over the period, but cumulative increases since 2018 stand at 83%. ILS assets under management were $1.3 billion at the end of September, following planned capital returns to investors. The company noted a strong pipeline of potential future investors.
The investment result for the period was $350.8 million, representing a 4.2% return year-to-date. Hiscox’s change program remains on track, and the company has repurchased 10.5 million shares for $179.4 million as of November 5.
