Hiscox Price Target Raised to 1,850 GBp After 10.2% Q1 Premium Growth
RBC Capital maintained an Outperform rating on Hiscox after Q1 results with premiums up 10.2% to $1.72 billion and raised its price target to 1,850 GBp. Shares surged 11.9% to a 52-week high of $21.43, lifting market capitalization to about $6.89 billion.
1. RBC Capital Rating and Price Target
RBC Capital upheld an Outperform rating on Hiscox and raised its price target from 1,710 GBp to 1,850 GBp, reflecting confidence in the insurer’s growth trajectory and underwriting performance.
2. Q1 Premium Growth by Division
Hiscox reported a 10.2% increase in written premiums to $1.72 billion, driven by retail premiums rising 15.1% to $847.2 million, Hiscox Re premiums up 7.1% to $527.1 million, and London Market premiums climbing 4.0% to $342.8 million.
3. Share Performance and Market Cap
Shares jumped 11.9% to $21.43, marking a 52-week high and boosting market capitalization to approximately $6.89 billion as investor confidence strengthened.
