Fitch upgrades Hiscox to A+ with stable outlook
Fitch Ratings has upgraded Hiscox Group’s, insurer financial strength (IFS) ratings from A to A+.
The ratings agency explained that the figures were for the group's core entities including Hiscox Insurance Company Limited, which operates in the UK and Europe.
It added that the upgrades, which were also all given a stable outlook, reflected the provider’s “strong and resilient risk-adjusted capital position, which has improved in recent years, mainly as a result of retained earnings”.
Another contributor to the upgrade was the provider’s continued track record of profitability.
Fitch stated:
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