Hiscox reports “record” H1
Specialist insurer Hiscox has posted a 29.5% increase in first half profit.
Net profit for the period was £122 million, or 31.8 pence per share, compared to £84.4 million, or 20.9 pence per share in the same period last year.
Pre-tax profit for the six months rose to £141.4 million, up from £109.2 million in the year ago period.
The Bermuda-based insurer achieved the rise in profits despite being adversely hit by currency fluctuations during the period.
Losses from foreign exchange totalled £42.8 million, compared to a £9.5 million gain last year.
Gross written premiums increased 41.7% to £906 million.
“Another record first half year result reinforces the strength of the Hiscox business and its resilience to the continuing international financial turmoil,” said Robert Hiscox, chairman.
“Good underwriting and investing has helped to keep our long term strategy firmly in place,” he added.
Hiscox increased its dividend by 0.25p to 4.5p.
Category: Companies News, Financials, Insurance News
Visited 1292 times, 3 so far today
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.