Hiscox Ltd
17 August 2026
Update on share repurchase programme
Hamilton, Bermuda (17 August 2026) - Hiscox Ltd ("Hiscox" or the "Company") today announces that, further to the share repurchase programme announced on 25 February 2026 to buy back its ordinary shares of 6.5 pence each ("Ordinary Shares") for a maximum aggregate consideration of $300 million (the "Programme"), the Company completed the initial tranche of the Programme on 14 August 2026. The Company purchased 6,608,372 Ordinary Shares between 25 February 2026 and 14 August 2026 pursuant to the agreement with Peel Hunt LLP to conduct the initial tranche of the programme up to $150 million (excluding expenses).
Having completed the initial tranche, Hiscox has entered into an agreement with Citigroup Global Markets Limited ("Citi") to conduct the second tranche of the Programme, commencing today and ending no later than the end of 2026, for a maximum aggregate consideration of $150 million with the Company subsequently purchasing its Ordinary Shares from Citi. Under this arrangement, Citi will act as principal.
Purchases under the Programme will take place in open market transactions and may be made from time to time by Citi, depending on market conditions, share price and trading volumes. The Programme is effected under the authority granted by shareholders at the Company's 2026 Annual General Meeting held on 14 May 2026. The maximum number of shares that may be repurchased under the Programme is 32,468,030 Ordinary Shares. Following the completion of tranche one, 25,859,658 Ordinary Shares can be purchased under the second tranche of the Programme. Any purchases contemplated by this announcement will be carried out on the London Stock Exchange and/or other recognised investment exchange(s). The Programme will end when the maximum aggregate consideration under the second tranche reaches $150 million or as otherwise terminated.
The Programme will continue to be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 as it forms part of UK law pursuant to the UK's European Union (Withdrawal) Act 2018 and the Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as applicable laws and the regulations of the UK Financial Conduct Authority (including Chapter 9.6 of the Listing Rules).
The purpose of the Programme is to reduce the issued share capital of the Company. The purchased Ordinary Shares will be cancelled.
Any repurchase of shares will be aggregated and announced on a weekly basis.
There is no guarantee that the Programme will be implemented in full.
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
Notes to editors
About The Hiscox Group
Hiscox is a global specialty insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). With roots dating back to 1901, 2026 marks 125 years of Hiscox and we are proud of our long heritage in insuring specialist and complex risks. Our ambition is to continue to be among the world's most respected specialist insurers, 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 13 countries and has customers worldwide. Through our retail businesses in the USA, UK and Europe, we offer a range of specialist insurance products in commercial and personal lines. Internationally traded, bigger-ticket business and reinsurance are underwritten through Hiscox London Market and Hiscox Re.
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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