|
|
H1 2013 |
H1 2012 |
|
Gross premiums written |
£1,017.9m |
£906.4m |
|
Net premiums earned |
£628.7m |
£567.8m |
|
Profit before tax |
£180.7m |
£125.8m |
|
Earnings per share |
42.4p |
32.1p |
|
Interim dividend per share |
7.0p |
6.0p |
|
Net asset value per share |
393.3p |
337.2p |
|
Group combined ratio |
74.7% |
81.7% |
|
Return on equity (annualised) |
25.8% |
21.1% |
|
Investment return (annualised) |
1.5% |
3.1% |
|
Reserve releases |
£73.6m |
£116.3m |
Highlights
Interim pre-tax profit of £180.7 million (2012: £125.8 million), helped by low exposure to recent catastrophes and fewer attritional losses.
Gross premiums written increased by 12.3% (2012: 7.0%) driven by good insurance opportunities in property and small commercial lines.
Interim dividend increased by 16.7% to 7.0p (2012: 6.0p).
New leadership in Hiscox London Market insurance business to leverage opportunities.
Adapting to market changes with Hiscox Re; combined reinsurance functions in London, Paris and Bermuda.
Bronek Masojada, Chief Executive Officer, Hiscox Ltd, commented
"Our strategy is working. Our specialist businesses and insurance lines provide stability and opportunity as we navigate more turbulent times in reinsurance. We have a strong brand, good discipline and plenty of options."
