HSX.L - Hiscox Ltd

LSE - LSE Delayed price. Currency in GBp
827.80
-1.20 (-0.14%)
As of 10:53AM BST. Market open.
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Previous close829.00
Open830.00
Bid827.20 x 0
Ask828.20 x 0
Day's range810.40 - 830.60
52-week range635.40 - 1,779.00
Volume152,794
Avg. volume1,777,250
Market cap2.867B
Beta (5Y monthly)0.39
PE ratio (TTM)48.98
EPS (TTM)16.90
Earnings date03 Aug 2020
Forward dividend & yieldN/A (N/A)
Ex-dividend date14 May 2020
1y target est19.90
  • Reuters

    Policyholders to join UK watchdog in case against insurers

    Hiscox, QBE and Aviva policyholders can join Britain's markets watchdog in a High Court case to decide which insurers should pay out to businesses shut by the coronavirus pandemic, a judge said on Friday. The policyholder groups would be able to present their views directly alongside the Financial Conduct Authority, which is consolidating the case for policyholders, High Court Judge Christopher Butcher told a hearing.

  • Brokers bullish on Hiscox shares
    Stockopedia

    Brokers bullish on Hiscox shares

    The Hiscox (LON:HSX) share price has risen by 9.60% over the past month and it’s currently trading at 759.2. For investors considering whether to buy, hold or...

  • Reuters

    Hiscox policyholders bid to join watchdog in UK insurance test case

    An action group representing almost 400 British businesses shut by the coronavirus pandemic has made a bid to team up with Britain's markets watchdog to bolster a High Court case to decide which insurers should pay out. The Hiscox Action Group on Wednesday formally applied to "give victims a voice" in the Financial Conduct Authority's (FCA) test case, that will pitch the regulator against eight insurers and see a London judge pore over selected insurance policy wordings. The FCA turned to the courts after small businesses, from restaurants to leisure groups, said they faced ruin after attempts to claim millions of pounds collectively in compensation for lost business were rejected by insurers.

  • Bloomberg

    Insurers May Use Swedish Example in Bid to Dodge Virus Payouts

    (Bloomberg) -- Insurers are set to argue against paying out fully on claims made by businesses forced to shut because of the pandemic, saying that shops in Sweden lost money even without a strict lockdown.The strategy was raised at the first case management hearing Tuesday in the Financial Conduct Authority’s London lawsuit seeking clarity on the limits of business interruption insurance amid the coronavirus crisis.Lawyers for Hiscox Ltd. and other insurers said Sweden is an example of a country where no firm lockdown restrictions were implemented, but businesses still suffered. The Swedish example is key to the insurers’ defense because some policies cover losses resulting from government action, but not necessarily pandemics.The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.“Some proportion of the U.K. businesses’ losses could not properly be said to have been caused by Covid alone,” said Jonathan Gaisman QC, a lawyer for Hiscox. One way that this might be examined is for the court “to compare the situation in the U.K. with that in Sweden.”Sweden, in stark contrast to most other countries in Europe, enforced softer lockdown measures, leading to one of the highest death rates in the world relative to population. Despite the more lenient measures, the country’s economy has taken a hit with Finance Minister Magdalena Andersson estimating the Scandinavian nation is set for a 7% drop in gross domestic product.The FCA trial is due to start in London’s High Court in July and will examine 17 policy wordings and try to establish whether a number of insurers should pay out on business interruption insurance.In addition, other insurers in the case include RSA Insurance Group Plc, Zurich Insurance Group AG and MS Amlin Ltd.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    UK small firms launch claim against Hiscox over pandemic cover

    A small business group has launched a 40 million pound insurance claim against British insurer Hiscox <HSX.L> over disputed cover for business disruption caused by the coronavirus pandemic, it said on Monday. Law firm Mishcon de Reya is representing the group of small business policyholders known as the Hiscox Action Group. The law firm has written to Hiscox to trigger arbitration clauses in nearly 350 contracts, the action group said in a statement.

  • Analysts upbeat on the outlook for Hiscox
    Stockopedia

    Analysts upbeat on the outlook for Hiscox

    The Hiscox (LON:HSX) share price has risen by 3.34% over the past month and it’s currently trading at 851.8. For investors considering whether to buy, hold or...

  • MP urges insurers to 'do the right thing' on COVID-19 claims
    Yahoo Finance UK

    MP urges insurers to 'do the right thing' on COVID-19 claims

    Yvonne Fovargue, head of the All Party Parliamentary Group on consumer protection, said insurers were 'weaselling their way out' of paying on the pandemic.

  • Reuters

    Hiscox, RSA among insurers tapped for UK pandemic test case

    Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should pay out millions of pounds to companies hit by the coronavirus pandemic, the industry regulator said on Monday. The Financial Conduct Authority (FCA) said last month it would seek clarity from the courts on whether the wording of some insurance policies should provide cover during the pandemic. The FCA said on Monday it has selected 17 examples from business interruption (BI) insurance policies used by 16 insurers, eight of whom were asked to take part in the court case.

  • Coronavirus: Insurance trade body launches £100m hardship fund
    Yahoo Finance UK

    Coronavirus: Insurance trade body launches £100m hardship fund

    Insurance firm Lloyd’s of London, as well as Hiscox and RSA are among latest in a long line of donors.

  • Lloyd's, Hiscox among donors to 100 million pound COVID-19 insurance fund - trade body
    Reuters

    Lloyd's, Hiscox among donors to 100 million pound COVID-19 insurance fund - trade body

    Lloyd's of London, Hiscox <HSX.L> and RSA <RSA.L> are among donors to a new British 100 million pound ($121 million) insurance and long-term savings COVID-19 support fund, the Association of British Insurers (ABI) said on Monday. The fund is being set up as insurers like Hiscox and RSA are under attack from small businesses who say their claims for disruption due to the virus have been declined, prompting the Financial Conduct Authority (FCA) to go to the courts for a decision on the issue.

  • Reuters - UK Focus

    Lloyd's, Hiscox among donors to 100 mln stg COVID-19 insurance fund-trade body

    Lloyd's of London, Hiscox and RSA are among donors to a new British 100 million pound ($121.19 million) insurance and long-term savings COVID-19 support fund, the Association of British Insurers (ABI) said on Monday. The fund is being set up as insurers like Hiscox are under attack from small businesses who say their claims for disruption due to the virus have been declined, prompting the Financial Conduct Authority to go to the courts for a decision on the issue. The fund has already received 82.5 million pounds in pledges, the ABI said in a statement, with 20 million pounds of the money pledged so far going to The National Emergencies Trust to support charities tackling the effects of the virus.

  • COVID-19 pandemic to cost insurers $200bn
    Yahoo Finance UK

    COVID-19 pandemic to cost insurers $200bn

    Lloyd's of London said its members were set to pay out between $3bn and $4.3bn over the pandemic, putting it on a par with the 9/11 terrorist attacks.

  • Reuters - UK Focus

    Lloyd's of London to pay up to $4.3 bln in coronavirus claims

    Lloyd's of London is likely to pay out $3.0-4.3 billion in claims related to the coronavirus pandemic and underwriting and investment losses for the global non-life insurance sector could reach a record $203 billion, Lloyd's said on Thursday. "I don't think anyone in our industry has ever seen both happen at once," Lloyd's Chief Executive John Neal told Reuters. Insured losses are likely to total $107 billion, similar to natural catastrophe losses in 2005 led by Hurricanes Katrina, Rita and Wilma and to 2017 including Hurricanes Harvey, Irma and Maria, Lloyd's said.

  • Reuters - UK Focus

    Bank of England asks insurers to be ready to raise capital if needed

    Britain's insurers should be ready to tap markets for capital if necessary due to uncertainty over the volume of claims in the coronavirus pandemic, the Bank of England's insurance regulator said on Thursday. "What we are asking firms to do and expecting firms to do is to think of different sources of vulnerabilities that might have a financial cost, and their flexibility for action," BoE executive director for insurance Anna Sweeney told a City & Financial webinar.

  • UK watchdog aims for July court date on business interruption insurance - policyholder
    Reuters

    UK watchdog aims for July court date on business interruption insurance - policyholder

    Britain's Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday. The Hiscox Action Group, which is seeking to sue Hiscox <HSX.L> over allegations that legitimate business interruption (BI) claims have been rejected during the coronavirus pandemic, held a discussion with the FCA this week, Daniel Duckett said. Duckett, who is a member of the 450-strong action group's steering committee, told Reuters it was the FCA's "ambition" to bring the case before the court in July.

  • Reuters - UK Focus

    Forcing insurance pay outs in pandemic could hit financial stability - IAIS

    Forcing insurers to retroactively cover business disruption losses from the pandemic could ultimately put financial stability at risk, the International Association of Insurance Supervisors (IAIS) said on Thursday. Eight U.S. states have introduced legislation which would require insurers to pay claims, mainly to small businesses, despite exclusions. Where pandemic risks are covered by a policy, insurers should pay out such claims in a prompt and efficient manner, the IAIS said in a statement.

  • Reuters - UK Focus

    UK watchdog eyes July for business interruption insurance court date-policyholder

    Britain's Financial Conduct Authority is looking to get business interruption insurance policies examined by a court as soon as July, Daniel Duckett, a member of the Hiscox Action Group of policyholders, said on Thursday. The action group, which is seeking to sue Hiscox over allegations that legitimate business interruption claims have been rejected during the coronavirus pandemic, held a discussion with the FCA this week, Duckett said. The FCA said last week it was seeking clarity from the courts about whether some business interruption policies should provide cover as a result of the pandemic, after policyholders complained their claims were denied.

  • Reuters - UK Focus

    Insurer Hiscox to raise capital via placement amid COVID-19 crisis

    Lloyd's of London insurer Hiscox on Tuesday said it would raise capital through a share placement amid a potential hike in business interruption claims in the wake of the coronavirus crisis. Hiscox, a leading insurer of small and medium-sized businesses, said besides the placement of new ordinary shares of 6.5 pence each, some directors and senior management intended to subscribe to shares at the placing price. The company added the placed shares and subscription shares would not exceed 19.99% of its existing ordinary share capital.

  • Coronavirus: Court to rule on insurance payouts to small businesses
    Yahoo Finance UK

    Coronavirus: Court to rule on insurance payouts to small businesses

    The FCA said it would seek an urgent court ruling over whether the wording around business interruption covered small businesses.

  • Reuters - UK Focus

    UK watchdog goes to court to clarify coronavirus business insurance

    Britain's financial watchdog said it would urgently ask the courts to clarify uncertainty over the inability of some insurance customers to obtain compensation for disruption caused by the coronavirus pandemic. The Financial Conduct Authority said it was seeking a declaration from the court due to continuing concerns about the lack of clarity and certainty for some customers making business interruption claims, and the basis on which some firms are making decisions in relation to claims. The FCA also set out measures to support consumers and businesses who hold insurance products and who are facing other issues as a result of coronavirus.

  • Big insurers face fresh coronavirus claim threat from UK hospitality sector
    Reuters

    Big insurers face fresh coronavirus claim threat from UK hospitality sector

    Top insurers such as AXA <AXAF.PA>, RSA <RSA.L>, QBE <QBE.AX> and Zurich <ZURN.S> face a potential multi-million pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption claims have been rejected. A new Hospitality Insurance Action Group (HIGA) on Wednesday issued a "call to arms" to the sector to step forward and have their policies checked for free in the latest move to tackle insurers over their response to the coronavirus pandemic. Lawyers at Mishcon de Reya -- who are already advising a separate action group against Hiscox <HSX.L>, a leading insurer of small and medium sized businesses -- said the hospitality sector had been particularly hard hit by the lockdown.

  • Reuters - UK Focus

    Locked-down UK hospitality firms threaten to take on big insurers

    Top insurers such as AXA , RSA, QBE and Zurich face a potential multi-million pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption claims have been rejected. A new Hospitality Insurance Action Group (HIGA) on Wednesday issued a "call to arms" to the sector to step forward and have their policies checked for free in the latest move to tackle insurers over their response to the coronavirus pandemic. Lawyers at Mishcon de Reya -- who are already advising a separate action group against Hiscox, a leading insurer of small and medium sized businesses -- said the hospitality sector had been particularly hard hit by the lockdown.

  • Reuters - UK Focus

    REFILE-British insurers to pay 1.2 bln stg in coronavirus claims -trade body

    British insurers are likely to pay more than 1.2 billion pounds ($1.5 billion) on claims from businesses and individuals affected by the coronavirus pandemic, an insurance trade body said on Saturday. The estimate includes 900 million pounds for business interruption claims, a record 275 million pounds for cancelled travel and 25 million pounds for cancelled weddings, school trips and events, the Association of British Insurers (ABI) said in response to a request for information from parliament's Treasury Committee. Checking that insurers were treating customers fairly, the committee of lawmakers last month asked how many of the ABI's members had stopped offering insurance or changed the terms of existing products.

  • Reuters

    Shuttered businesses appoint lawyers to take on UK insurer Hiscox

    Hundreds of British businesses, shuttered by a government lockdown to curb the coronavirus pandemic, have appointed lawyers to take on insurer Hiscox <HSX.L>, saying its refusal to compensate them for losses was putting their future at risk. The Hiscox Action Group said on Thursday it represented more than 200 policyholders with "dozens more joining daily", that discussions with a litigation funder were advanced and that it had appointed Mishcon de Reya as legal adviser. Richard Leedham, a partner at Mishcon de Reya, said he had been instructed to prevent hundreds of British companies from being driven out of business and had been "very surprised" by Hiscox's reaction to date.

  • What to watch: Hiscox rejects firms' insurance claims, markets climb, inflation slows
    Yahoo Finance UK

    What to watch: Hiscox rejects firms' insurance claims, markets climb, inflation slows

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

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