Hiscox confirms Bermuda move as profits fall
Hiscox confirmed it is planning to move its domicile to Bermuda as profits fell in the first half of 2006, despite gross premiums written increasing 43% to £625.1m. The firm's surplus was £61.3m, compared with £88m for the same period last year.
Highlight's from the group's statement this morning included:
Profit before tax excluding currency exchange movements £64.7 million (2005: £51.2m) Group combined ratio adjusted for currency exchange onOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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