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Hiscox Re leans on third-party capital to expand underwriting capacity
Hiscox Re generated an undiscounted combined ratio of 70.4% in H1 2026 and grew ICWP 6.4% year on year to $944.5 million.
Hiscox Re, the reinsurance unit of Hiscox Ltd, is continuing to use its Hiscox Capital Partners platform to attract third-party capital and expand underwriting capacity, according to Hiscox executives speaking during a webcast for the company’s first-half 2026 results.
Hiscox Chief Underwriting Officer Joanne Musselle said the third-party capital helps Hiscox gain market relevance and deploy more underwriting capability than its balance sheet alone would allow, supporting fee income and portfolio building for partners.
Hiscox CEO Aki Hussain said Hiscox Re delivered an excellent combined ratio of 70% in the first half, following multiple years of combined ratios in the 60s. His Chief Financial Officer Paul Cooper added that Hiscox Re’s insurance contract written premium increased 6.4% year on year to $944.5 million, helped by new third-party capital inflows from quota-share partners and institutional investors.
Cooper also noted that net premiums fell 7.4% as the unit maintained discipline in property catastrophe and retro lines, trimming exposure where returns do not meet profitability hurdles or target volatility. He said the insurance service result rose to $62.5 million, reflecting strong underwriting and a benign natural catastrophe environment, and that the undiscounted combined ratio was 70.4%.