Articles - Hiscox IFS rating upgraded to A+ by Fitch

 Hiscox Ltd, the international specialist insurer, confirms that Fitch Ratings has upgraded Hiscox Group's (Hiscox) core entities' Insurer Financial Strength (IFS) ratings to 'A+'. Fitch has also upgraded all Hiscox’s holding companies’ Long-term Issuer Default Ratings (IDRs) to 'A-'. The Outlooks on all the ratings are Stable.

 Stuart Bridges, Group Finance Director of Hiscox commented: “This upgrade is pleasing and is a vindication of our strategy. Hiscox is a resilient business, the balance we have achieved between regional retail businesses and large ticket catastrophe risks allows us to adjust to changing market dynamics and maintain stability and profitability over time.”

 In its statement, Fitch said that the rating upgrades reflect Hiscox’s strong capital position and continued track record of profitability. Fitch noted that the stability of earnings has been aided by a diversified business mix, combining volatile and more stable-performing lines of business, and said it views Hiscox’s active cycle management positively.