Hiscox posts rising premium and profit for start of 2018
Insurer planning for “muted” growth from brokers.
Hiscox UK & Europe has reported gross written premiums (GWP) of $610m [£464.8m] for the first half of 2018, a 19% rise on the $510.5m achieved at the start of 2017.
The division delivered $65.5m of pre-tax profit in keeping with the same period the year before however the insurer flagged that without the effect of currency movements it achieved a 15% increase to $68.9m.
Likewise the combined operating ratio worsened to 87.5% when including the impact of foreign exchange or improved to 86.8%
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