Fitch affirms Hiscox A rating – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Fitch affirms Hiscox A rating

Fitch Ratings has affirmed the core entities of the Bermuda-based Hiscox Group's insurer financial strength (IFS) ratings at A, with a stable outlook.

Fitch said the affirmation reflects Hiscox's “strong financial profile, underpinned by a stable level of capitalisation that remains supportive of the rating level.

“The relatively consistent level of profitable earnings generated by Hiscox in recent years,strong franchise and modest debt leverage are also viewed positively,” Fitch commented.

The insurer's developing operating profile remains an offsetting factor. The agency believes that the US and European businesses “have yet to reach the operational scale required to achieve a stable level of profitability, although this is mitigated by Hiscox's cautious approach to developing new markets and territories”.

Hiscox Bermuda CEO Charles Dupplin

You must be Registered or to post comment or to vote.

Published December 13, 2010 at 1:00 am (Updated December 13, 2010 at 11:42 am)

Fitch affirms Hiscox A rating

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon