Hiscox Ltd is introducing a Bermuda Solvency Capital Ratio target of 190 per cent to 200 per cent and plans to more actively deploy its balance sheet headroom to support strategic objectives.

The international specialist insurer unveiled the strategy during its Capital Markets Day in Hamilton.

Also stated were group-wide initiatives that included doubling down on retail ambitions with plans to accelerate growth, enhance shareholder returns and deliver $200 million in annualised profit benefits by 2028.

Executives laid out a road map aimed at unlocking sustainable, long-term value, with a focus on expanding the company’s $317 billion target addressable market.

The group also committed to a 20 per cent increase in its final dividend for 2025 on top of last year’s 15 per cent hike, and a continuing $175 million buyback programme.

The company’s retail business, which includes operations in the UK, Europe, the US and Asia, is set to outpace the broader market through a multipronged strategy: deepening sector specialisation, expanding product offerings and distribution channels and entering new geographies. Hiscox aims to reach double-digit premium growth by 2028.

Retail will also account for the lion’s share of the firm’s planned $200 million profit improvement programme, which includes initiatives to streamline operations, cut claims costs and boost operating leverage.

While implementation costs will match the projected gains over the four-year period, management expects a net annual benefit of $200 million starting in 2028.