2nd Mar 2015 08:04
LONDON (Alliance News) - Hiscox Ltd Monday reported a 6% fall in pretax profit in 2014 as challenging market conditions persist for specialty insurers due to pricing pressure, abundant capital in reinsurance and a tough environment for investment returns.
In a statement, the Lloyd's of London insurer said it made a GBP231.1 million pretax profit in 2014, compared with GBP244.5 million in the prior year.
The group increased its dividend to 22.5 pence per share from 21.0 pence, while also raising its special distribution to 45.0 pence from 36.0 pence.
By Samuel Agini; [email protected]; @samuelagini
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