By Kenneth Araullo
For the third quarter of 2025, Hiscox reports continued growth across all three business segments, with major gains reported across its retail division.
The insurance group recorded a 5.9% increase in group insurance contract written premiums (ICWP) to US$4,052.9 million for the first nine months of 2025, compared to US$3,825.9 million in the same period last year.
Hiscox Retail’s ICWP rose by US$137.0 million, or 6.1% in constant currency, reaching US$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 US$3.1 billion, with all divisions contributing to growth. The company posted a pre-tax profit of US$264.8 million for the period, and its investment return improved to US$199.7 million, up from US$44.8 million in the previous year.
In the UK, Hiscox achieved an 8.0% increase in ICWP in constant currency, totalling US$714.0 million. The business cited the impact of marketing investments, productivity improvements, and new distribution deals as contributing factors.
The art and private client division maintained double-digit growth, supported by technology-enabled distribution and an expanded brand campaign targeting high-net-worth customers. Since the campaign’s launch two years ago, spontaneous brand awareness has risen by more than 50%.
The commercial segment saw policy growth outpace rate increases, driven by new distribution agreements. Hiscox is also preparing to launch a digitally distributed dental product in the health, beauty, and wellbeing sector.
Elsewhere, Hiscox Europe reported a 7.1% increase in ICWP in constant currency, reaching US$569.0 million. France and Germany, which account for over 60% of the European business, recorded double-digit premium growth. Growth in the Netherlands was subdued due to tax changes affecting the self-employed, but this is expected to improve in 2026.
The European division also launched a new cyber product in France and signed a distribution deal with a major German broker consolidator. In Italy, Hiscox is expanding its presence following the acquisition of a local insurer earlier this year.
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 favourable loss experience.
The London Market division posted a 2.5% increase in ICWP to US$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 US$525.6 million, with total ICWP up 6.5% to US$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 US$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 US$350.8 million, representing a 4.2% return year-to-date. Hiscox’s change programme remains on track, and the company has repurchased 10.5 million shares for US$179.4 million as of November 5.