Hiscox slumps to half year losses but UK prospers
Hiscox Group has reported a pre-tax loss of £85.6m for the first six months of 2011, in the comparable period of 2010 it made £97.2m in profit.
The specialist international insurer also revealed that in the half year ended 30 June 2011 gross written premium fell to £847.5m (H1 2010: £904.3m) and the combined operating ratio (COR)deteriorated to 116.9% (H1 2010: 93.6%).
However there was better news in the UK where the provider made a record profit for UK business of £25.2m with gross written premiums up by 8.8% to £182.9m and an improved COR of 87.9% (H1 2010: 91.8%)
The company said it achieved the UK results by concentrating on good
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