FY2017 PBT of £30.8m (£93.6m pre FX) was impacted by nat cats and FX losses, as expected, but future FX noise will fall with the move to US$ reporting. The results were solid in our view given the 2017 cats, helped by GPW growth in Retail. The outlook has improved for London Market/Reinsurance - lower than Hiscox hoped but closer to our predictions, which should boost 2018/19E PBT. We don’t see an early return to special dividends but instead value-add investment, an improve
28 Feb 2018
Building for the future
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Building for the future
Hiscox Ltd (HSX:LON) | 1,199 -155.9 (-1.1%) | Mkt Cap: 4,150m
- Published:
28 Feb 2018 -
Author:
Joanna Parsons -
Pages:
7
FY2017 PBT of £30.8m (£93.6m pre FX) was impacted by nat cats and FX losses, as expected, but future FX noise will fall with the move to US$ reporting. The results were solid in our view given the 2017 cats, helped by GPW growth in Retail. The outlook has improved for London Market/Reinsurance - lower than Hiscox hoped but closer to our predictions, which should boost 2018/19E PBT. We don’t see an early return to special dividends but instead value-add investment, an improve