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Hiscox increases its 2018 interim dividend by 5%

Investment Tools Ltd.
Hiscox increases its 2018 interim dividend by 5%

Highlights

 Hiscox 2018 interim results

·      Strong growth in gross premiums written of 21%, with all segments contributing.

·      Good underwriting drives improved combined ratio of 88%.

·      Profit before tax up by 27% to $164 million with Hiscox Retail contributing over half.

·      Reducing loss estimates for 2017 catastrophes drive increase in reserve releases to $154 million, reflecting our prudent approach to reserving.

·      On track to exceed one million retail customers in 2018.

·      We continue to see strong demand for our ILS funds and now have assets under management of $1.6 billion.

·      Interim dividend up 5% to 13.25 cents.

 

Bronek Masojada, Chief Executive Officer, Hiscox Ltd, commented:

"It has been a good start to the year. Our investment across the business is driving strong profitable growth in all segments. We are on track to exceed one million retail customers in 2018."    

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