Hiscox Ltd (LSE:HSX), the international specialist insurer, today issues its Interim Management Statement for the first three months of the year to 31 March 2015.
Gross written premiums increased by 12% to £561.7 million (2014: £501.6 million) in the first quarter as the Group continues to find good opportunities for profitable growth.
Bronek Masojada, Chief Executive, commented:
"It’s been an excellent start to the year, flattered by a good claims experience and favourable foreign exchange movements. While the market has been tough, with a reduction in pricing in the big ticket businesses, we have continued to grow in our specialty lines and expand our ILS business."
| Gross Written Premiums to 31 March 2015 US$/€m/£m |
Gross Written Premiums to 31 March 2014 US$/€m/£m |
Growth in local Currency % | Growth in Sterling % | |||
|---|---|---|---|---|---|---|
| Hiscox Retail | ||||||
| - Hiscox UK | £103.5 | £98.2 | 5.8 | 5.4 | ||
| - Hiscox Europe | €85.8 | £65.6 | €79.5 | £66.4 | 7.9 | -1.2 |
| - Hiscox Guernsey | US$26.3 | £17.3 | US$28.1 | £17.0 |
-6.4 |
1.9 |
| - Hiscox USA | US$95.8 | £63.3 | US$82.6 | £49.9 | 16.0 |
26.8 |
| -DirectAsia | US$7.3 | £4.8 | ||||
| Hiscox London Market | £148.7 | £126.8 | 11.4 | 17.3 | ||
| Hiscox Re | US$240.2 | £158.5 | US$237.1 | £143.3 | 1.3 | 10.6 |
| Total | £561.7 | £501.6 | 8.6 | 12.0 | ||
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