Hiscox increases dividend by 3.8%

DividendMax Ltd.

Hiscox increases dividend by 3.8%

Hiscox has increased its dividend to 13.75c per share, a 3.8% increase.

Other financial highlights include:

Gross premiums written up 7% in constant currency, with all business segments growing. 

Profit before tax up 3% to $168 million, driven by a good investment return of 4.8% annualised. 

The Group experienced a higher volume of claims in the first half of 2019 than the same period last year. 

Reserves have been strengthened for prior-year claims from Typhoon Jebi, Hurricane Michael and the risk excess book, as industry loss estimates have increased.

Retail growth has moderated as planned, due to on-going discipline in US private company directors and officers' (D&O) business and as Hiscox UK adapts to new IT systems. 

Hiscox Re and Hiscox London Market are capitalising on opportunities as they arise, as pricing momentum continues to build. 

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