Hiscox shares rise; Berenberg re-initiates coverage with 'buy'

ReutersMay 30, 2025 8:02 AM

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British insurer Hiscox Ltd HSX.L up 2.1% at 1,279p

Stock among top pct gainers on FTSE 100 index .FTSE, which is up 0.63%

Berenberg re-initiates coverage on HSX with "buy" rating and PT 1,450p

Hiscox sets target to accelerate retail premium growth to double digits by 2028 at its maiden capital markets day

Retail segment includes smaller-ticket, lower-volatility business

"Acceleration of retail business growth means it will gradually become a bigger part of the overall group," says Berenberg

Brokerage says co's planned $200 mln cost savings encourage profitability

As of last close, stock up nearly 15.7% YTD

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