Stock Markets May 7, 2026 02:39 AM

Hiscox posts 10% rise in written premiums for Q1 2026 as retail lines accelerate

Retail led gains offset softer conditions in London Market and mix shifts in Re & ILS

By Leila Farooq
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Hiscox Ltd reported a 10% increase in insurance contract written premiums to $1,717.1 million in the first quarter of 2026, with retail business leading the expansion. On a constant currency basis growth was 7%. While gross written premiums climbed across most divisions, net exposures and rate pressures in segments such as Re & ILS weighed on net written premiums and overall rate change dynamics.

Hiscox posts 10% rise in written premiums for Q1 2026 as retail lines accelerate
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Key Points

  • Group insurance contract written premiums rose 10% to $1,717.1 million in Q1 2026 (7% in constant currency). Impacts: insurance sector and capital markets.
  • Retail division led growth with a 15% increase to $847.2 million; regionally UK, Europe, and USA all reported double-digit or high single-digit gains. Impacts: retail insurance and personal/commercial lines.
  • Re & ILS saw gross written premiums climb 7% to $527.1 million but net written premiums fell 6% due to reduced net exposure on property catastrophe lines. Impacts: reinsurance and catastrophe risk markets.

Hiscox Ltd (LON:HSX) recorded a 10% increase in insurance contract written premiums for the first quarter of 2026, reaching $1,717.1 million, the company disclosed on Thursday. Measured in constant currency, the rise was 7%.

The retail arm was the primary driver of the top-line expansion, with premiums in that division advancing 15% to $847.2 million - an 8% increase when adjusted for currency movements. Regional retail performance varied: Hiscox UK premiums climbed 17% to $244.3 million, Hiscox Europe grew 20% to $328.2 million and Hiscox USA reported 9% growth to $274.7 million.

The London Market unit produced a more modest increase in written premiums, up 4% to $342.8 million. Company commentary attributed the London Market gain principally to casualty lines, where rate levels remained supportive, even as broader market conditions softened.

Hiscox's Re & ILS division posted a 7% increase in gross written premiums to $527.1 million. However, net written premiums in that unit fell by 6%, reflecting deliberately reduced net exposure on property catastrophe lines.

Rate movements were uneven across the group in the quarter. The retail portfolio experienced a 2% increase in rates, while London Markets saw rates decrease by 4% and Re & ILS rates declined by 13%.

On the investment side, Hiscox reported invested assets of $9.3 billion, with an overall duration of 2.0 years and an A rating. The company's investment result for the period was $34.1 million, equivalent to a positive year-to-date return of 0.4%.


Taken together, the figures show a company with accelerating retail premium growth that is managing exposure in its reinsurance-linked business and navigating variable rate environments across its operating segments.

Risks

  • Net exposure reductions in property catastrophe lines resulted in a 6% decline in net written premiums for Re & ILS - risk to reinsurance revenue streams and related capital allocation.
  • Rate contraction in London Markets (-4%) and Re & ILS (-13%) may pressure underwriting margins where pricing weakens - risk to insurance profitability and underwriting returns.
  • Concentration of growth in retail could expose the company to regional or product-specific exposures if market conditions change - risk to underwriting diversification.

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