Early Retiree
Research analyst, value, small-cap, retirement and income

Hiscox: Kidnap Insurance For Retirees?

Whenever you hear about pirates extorting money from ship owners, kidnappers receiving ransom or a famous artwork that has been stolen from a museum, it is highly likely that Hiscox plc (OTC:HCXLF) (OTC:HCXLY) is involved in the case.

Robert Hiscox, the Honorary President of the company and son of its founder, has always loved the difficult stuff. The company insured the first commercial jetliner - before there were any statistics regarding its safety profile - and made a lot of money, because it had not foreseen how safe flying would be. For a long time Hiscox almost enjoyed a monopoly in the area of luxury insurance: private art collections, jewelry, yachts. Then competition chased down prices...

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