Completion of share repurchase programme
Updated : 07:01
Completion of share repurchase programme
Hamilton, Bermuda (15 August 2024) - Hiscox Ltd ("Hiscox" or the "Company") today announces that, further to the share repurchase programme announced on 5 March 2024 to buy back its ordinary shares of 6.5 pence each ("Ordinary Shares") for a maximum aggregate consideration of $150 million (the "Programme"), the Company completed the second and final tranche of the Programme on 14 August 2024.
The Company purchased 4,896,100 Ordinary Shares between 5 March 2024 and 2 May 2024 pursuant to the agreement with Peel Hunt LLP to conduct the initial tranche of the Programme totalling $75 million (excluding expenses). The Company purchased 5,052,784 Ordinary Shares between 3 May 2024 and 14 August 2024 pursuant to the agreement with Citigroup Global Markets Limited ("Citigroup") to conduct the second tranche of the Programme totalling $75 million (excluding expenses). A total of 9,948,884 Ordinary Shares have been purchased pursuant to the share repurchase programme.
Having completed the second tranche, Hiscox confirms it has now successfully completed the $150 million Programme.
ENDS
For further information
Investors and analysts
Yana O'Sullivan, Director of Investor Relations, London +44 (0)20 3321 5598
Marc Wetherhill, Group Company Secretary, Bermuda +1 441 278 8300
Media
Eleanor Orebi Gann, Group Director of Communications, London +44 (0)20 7081 4815
Simone Selzer, Brunswick +44 (0)20 7404 5959
Tom Burns, Brunswick +44 (0)20 7404 5959
Notes to editors
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,000 people in 14 countries, and has customers worldwide. Through the retail businesses in the USA, UK, Europe and Asia, we offer a range of specialist insurance products in commercial and personal lines. Internationally-traded, bigger-ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
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