9th Nov 2015 07:37
LONDON (Alliance News) - Hiscox Ltd, the Bermuda-based specialist insurer, on Monday said that premiums grew by 13% in the first nine months of 2015, driven by its insurance lines, particularly its US retail business and its London Market bigger-ticket business arm.
Hiscox also that a lack of storms, floods and hurricanes has helped claims experience, as has as a "good risk selection". That said, it currently expects net claims of USD10 million from the explosion in the port of Tianjin in China in August.
Gross written premiums increased to GBP1.54 billion in the nine months to September 30, compared with GBP1.36 billion in the corresponding period the prior year.
At local currency gross written premiums grew by 7.9%.
First-half gross written premiums grew to GBP1,096.3 million from GBP978.9 million the corresponding period the prior year, according to the insurer's interim results statement in August.
"Our strategy is working. A long-term investment in the brand has helped us attract new business and talent and we see plenty of opportunities for growth," Chief Executive Bronek Masojada said.
By Samuel Agini; [email protected]; @samuelagini
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