Societe Generale said it has acquired a 5.1% stake in Hiscox Ltd, the Bermuda-based specialty insurer, crossing a regulatory disclosure threshold. The French bank reported a total of 16.42 million voting rights in Hiscox as of August 19, comprising 16.07 million shares and 354,457 votes tied to cash-settled contracts for difference.
The position represents 4.99% of Hiscox’s voting rights through direct shareholdings and an additional 0.11% via the derivative instruments. The contracts for difference have expiration dates of May 22, 2028, and December 8, 2027.
Societe Generale notified Hiscox of the stake on Thursday, using the TR-1 standard form required for major-holding disclosures. The filing did not specify whether the position was accumulated through acquisitions or other transactions, nor did it indicate any intention regarding further changes to the stake.
