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Hiscox premiums rise in Q1 on growth in London, Europe markets
StockMarketWire.com
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Insurance company Hiscox reported a rise in gross premiums in the first quarter of the year as strong growth in its London and Europe markets offset planned reductions in its US broker channel.
For the year to 31 March, gross written premiums were up 6.3% to $1,256.6 million year-on-year.
Hiscox London Market saw rates up 13% across the portfolio and premiums up 9.3%.
Hiscox Europe was up 20.4%, while direct and partnerships premiums were up 22.1% in the quarter.
'Our big-ticket businesses are benefitting from improved conditions and strong market positions,' the company said.
There was no change to previously-disclosed estimates for claims related to Covid-19 in 2020 and 2021, it added.
'The board believes that paying a dividend is a priority in 2021 and will evaluate the position ahead of the interim results,' the company said.
Story provided by StockMarketWire.com
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