IFRS 17 education event

6 December 2022

Disclaimer

All numbers are illustrative or indicative, unaudited and subject to change. No forecasts, KPI numbers or new targets issued.

1

What we will cover today

  • Key messages and overview
  • Core IFRS 17 changes relevant to our business
  • Impact on numbers and key performance indicators
  • Timeline of events

2

Key messages and overview

Paul Cooper, Group CFO

Key messages Fundamentals unchanged

Economics of the business

Capital position and cash generation

Reserves

Group's earnings

Shareholders' equity

Presentation and disclosures

Key performance indicators (KPIs)

No change in strategy. Strong business fundamentals.

Robust solvency position and cash generation. Expect no impact.

No change in conservative reserving philosophy but more granular disclosures.

Reduced volatility as changes to investment return arising from interest rate movements are now partially offset by discount rate on net insurance liabilities.

Small net increase on transition, primarily due to discounting; no fundamental change in profitability.

New and more granular disclosures.

Revised reporting KPI definitions but no change to management focus and decision-making.

4

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Disclaimer

Hiscox Ltd. published this content on 06 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2022 13:21:01 UTC.