Hiscox has released the latest results and estimates for its flagship Lloyd’s syndicates, forecasting a return of 3.5% to 13.5% for Syndicate 33 and a significantly higher 23.2% to 33.2% for Syndicate 6104 for the 2025 year of account.
The optimistic outlook for the 2025 year of account is complemented by the strategic expansion of Syndicate 6104, with capacity increasing to £79 million in 2025, marking a four-fold increase from the £19 million deployed in 2023.
Hiscox also upgraded its 2024 projections, lifting the estimated range for Syndicate 33 by a full percentage point to 3.4%–15.4%. Similarly, Syndicate 6104 saw its forecast nudge higher, with the upper bound rising from 25% to 25.3%.
The update concluded with the final closing results for the 2023 account, which saw Syndicate 33 finish the year with a strong 19.1% return on capacity.
However, it was Syndicate 6104 that delivered the standout performance, closing at a massive 51.7% profit, eclipsing the top end of its previous guidance.
In related news, Hiscox Re, the reinsurance business and third-party capital platform of the specialist insurer, recently disclosed that it generated profit before tax of $286.7 million in 2025, an increase of 7% on the prior year, as the segment’s undiscounted combined ratio strengthened to 67.4%.
