Hiscox, Ltd. (HSX) 2011年年度报告「LSE」.pdf

1、 Hiscox Ltd Report and Accounts 2011 Contents About the Hiscox Group2 Corporate highlights 3 Why invest in Hiscox?4 Chairmans statement 6 Chief Executives report13 Hiscox business structure14 Reinsurance 17 PeopleFinancial review18 Group financial performance 20 Group investments Governance and remu

2、neration23 Risk management 28 Corporate responsibility 30 Insurance carriers 34 Board of Directors 36 Corporate governance 39 Directors remuneration report 47 Directors report 48 Directors responsibilities statementFinancial summary50 Independent auditors report51 Consolidated income statement 51 Co

3、nsolidated statement of comprehensive income 52 Consolidated balance sheet53 Consolidated statement of changes in equity54 Consolidated statement of cash flows55 Notes to the consolidated financial statements104 Five year summary3%Tech and media errorsand omissions17%Art andprivate client5%Small pro

4、perty3%Large property3%Global errors and omissions9%Specialty terrorism,specie,political risks,aerospace 8%Marine and energy28%Reinsurance16%Local errors and omissions and commercial8%Specialty kidnap and ransom,contingency,personal accidentOur ambition is to be a highly respected specialist insurer

5、 with a diverse portfolio by product and geography.We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.1Strategic focus 100%=1,664mTotal Group controlled income fo

6、r 2011 Our strategy is:to use our underwriting expertise in London and Bermuda to write high-margin volatile or complex risks;to build our distribution in the UK,Europe and the US for our specialist retail products;to protect and nurture our distinctive culture and ethos by recruiting the best peopl