Investing.com -- Hiscox (LON: HSX ), the global insurance company, announced on Thursday that it anticipates generating efficiency gains of $200 million starting from 2028.
The expected gains are a result of an operational overhaul aimed at reducing costs and leveraging scale across its worldwide insurance business.
The company also highlighted the retail sector, which currently represents a $317 billion annualized addressable market.
Hiscox identified the small commercial and high-net-worth individual lines as areas with the greatest potential for growth.
In an effort to capitalize on this growth potential, Hiscox stated it plans to expand its margins in these lines.
The company will also increase its investments in distribution and product development to support this strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.