Lloyd’s Syndicate Results 2017 (43): Hiscox Syndicate 3624

With the 2017 numbers for the Lloyd’s syndicates now in, IMN over the next few weeks will report on the marine numbers for those syndicates with a significant interest in this area.

Hiscox Syndicate 3624 made a loss of £45.4m in 2017, primarily driven by discontinued classes, plus a large loss on the product recall account and the impact of the hurricanes on the property account.

For 2018 the Syndicate said that it would focus on retail insurance sourced primarily from the Hiscox-owned service companies, in particular Hiscox Inc. in the US.


2017 £m2016 £m% change
Gross premiums written408.8533.5(23)
Gross premiums earned494.3478.33
Net premiums earned411.0381.78
Total recognised profit for the year(45.4)15.9(386)
Claims ratio (%)725616
Commission ratio (%)3436(2)
Expense ratio (%)56(1)
Combined ratio (%)1119813


Marine aviation and transport

GPW £000Profit/loss £000
For 201736,059(5,936)
For 201693.020(11,204)