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BRIEF-Hiscox to increase capacity to 1.6 bln stg amidst "widespread market turn"​
October 11, 2017 / 12:47 PM / 2 months ago

BRIEF-Hiscox to increase capacity to 1.6 bln stg amidst "widespread market turn"​

Oct 11 (Reuters) - Hiscox Ltd

* ‍ENVISAGES A 2018 CAPACITY OF £1.6 BILLION FOR SYNDICATE 33, SUBJECT TO LLOYD‘S APPROVAL​

* ‍THIS REPRESENTS AN INCREASE OF £450 MILLION FROM 2017​

* ‍INCREASE IN CAPACITY IS DRIVEN BY AN ANTICIPATED IMPROVEMENT IN MARKET

* ‍INCREASE IN CAPACITY IS DRIVEN BY DESIRE TO HAVE SUFFICIENT CAPACITY AVAILABLE TO PARTICIPATE IN A WIDESPREAD MARKET TURN​

* HISCOX - ‍INCREASE FOLLOWS A PERIOD OF SIGNIFICANT CATASTROPHE ACTIVITY IN 2017 IN WHICH MORE THAN $100 BILLION OF INDUSTRY CAPITAL IS ESTIMATED DESTROYED​ Source text for Eikon: Further company coverage:

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