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Interim Results

Hiscox gross written premiums up

31 July 2017 08:20

Hiscox reports a good underwriting results for the six months to the end of JUne despite on-going headwinds.

The group posted a pre-tax profit of £102.6 million (2016: £206.0 million), £133.5 million excluding foreign exchange gains/(losses) (2016: £118.7 million).

Gross written premiums increased to £1,459.6 million (2016: £1,288.5 million) or 4.8% growth in constant currencies.

Net earned premiums were £936.6 million (2016: £767.5 million).

The impact of foreign exchange was a loss of £30.9 million (2016: gain of £87.3 million).

The net combined ratio was 91.0% (2016: 80.7%) and was 89.9% (2016: 88.4%) excluding foreign exchange (losses)/gains.

Earnings per share were 34.9p (2016: 70.4p) and net assets per share grew to 657.7p (2016: 591.7p). The annualised return on equity was 11.1% (2016: 28.3%).

At 8:20am: (LON:HSX) Hiscox Ltd share price was -20p at 1333p

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