Hiscox Ltd - Bermuda-based insurer - Completes initial tranche of $150 million share buyback programme. Hiscox entered into agreement with Citigroup Global Markets Ltd to conduct the second tranche of the programme, which starts Friday and is, like the initial tranche, for a buyback of $75 million in shares. On Thursday, Hiscox reported insurance contract written premiums totalled $1.54 billion in the first-quarter of the year, a rise of 8.3% from $1.42 billion a year prior. In Hiscox Retail, there was growth of 8.1%, while in the reinsurance and insurance-linked strategy unit, it climbed 19%. In the Hiscox London Market division, however, contract written premiums declined 4.9%.
Current stock price: 1,142.00 pence per share, down 2.8% on Friday morning in London
12-month change: down 4.3%
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