Hiscox announces Brexit update

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As for its Brexit preparations, Hiscox described them as well advanced.

“We are already utilising the new Lloyd’s Brussels subsidiary and our Part VII plans are on track,” noted the insurer. “Our new European subsidiary, Hiscox S.A., is fully operational and expected to start writing business from January 01, 2019.

“Our plans have always assumed a worst-case scenario ‘hard Brexit’ and we are prepared, irrespective of the outcome of the government’s negotiations.”