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Hiscox Re profit rises to $94.6m as net catastrophe exposures fall
In the first half of 2026, Hiscox Re’s combined ratio improved to 64.7%, while it reserved an estimated $20 million net loss related to the Middle East conflict.
Hiscox Ltd’s reinsurance operation, Hiscox Re, reported higher profit before tax of $94.6 million in the first half of 2026, alongside a sharp improvement in its combined ratio to 64.7%. Reinsurance News said the results were driven by reduced net natural catastrophe exposures as the firm shifts toward supporting growth for high-quality, long-term cedants.
Hiscox Re’s insurance contract written premium rose 6.4% year over year to $944.5 million in H1 2026, aided by new third-party capital inflows from quota-share partners and institutional investors. Over the same period, however, rates fell 16% in the six months and terms and conditions showed some modest softening, though 83% of the portfolio remains rate adequate or better.
The segment’s net ICWP decreased 7.4% to $381.1 million as catastrophe-exposure reductions only partly offset growth in pro-rata and specialty lines, Reinsurance News added. Hiscox Re also recorded an insurance service result of $62.5 million in H1 2026, up from $8.5 million a year earlier, and it booked an estimated net loss of $20 million related to the Middle East conflict.
Third-party capital support continued, with ILS assets under management increasing by $1.4 billion to $2.9 billion as of July 1, 2026. At Hiscox London Market, which is described as its specialist insurance offering, ICWP increased 9.8% to $733.2 million in H1 2026, with net ICWP slightly higher at $462.6 million.