Hiscox Ltd (HSX.L) reported that, for the nine months of the year to 30 September 2018, Gross written premiums increased by 14.3% to $3.04 billion, with good growth reported in all segments. After a benign first half for claims, the Group experienced a more active environment for both natural catastrophes and large claims in the third quarter. This activity extended into October.
Bronek Masojada, CEO, said: “We have had strong growth, but as the market remains challenging, we will remain disciplined, and I expect our growth to moderate over the balance of the year. It has been an active third quarter for claims across the Group, both from large losses and catastrophes, and I am pleased with how we have responded. Hiscox Retail continues to benefit from investment in the brand.”
The Group noted that its preparations for Brexit are well advanced. The new European subsidiary, Hiscox S.A., is fully operational and expected to start writing business from 1 January 2019.
Source: Read Full Article