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Trading statements

Hiscox gross written premiums up

09 May 2017 07:32

Hiscox had a strong start to the year with gross written premiums up by 17.3% to £751.2m in the three months to the end of March.

The group said this was driven by a strong performance from Hiscox Retail.

As forecast, Hiscox London Market income was down in constant currency.

Group chief executive Bronek Masojada said: "We have had a strong start to the year thanks to our long-term investment in Hiscox Retail, particularly in the small business sector.

"Hiscox London Market continues to face challenging conditions. Hiscox Re and ILS are finding opportunities.

"We remain disciplined and are carefully navigating our way forward."

Hiscox also released current estimates for the 2015 and 2016 accounts for Syndicate 33 and Syndicate 6104.

It said current estimate for 2015 for syndicate 33 was 2.5% to 12.5% compared with 0.0% to 10.0% previously.

The estimate for 2016 was unchanged at (5.0%) to 5.0%.

It said that for current estimates for syndicate 6104 for 2015 and 2016 were unchanged - 25.0% to 35.0% for 2015 and 5.0% to 15.0% for 2016.

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