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.