Hiscox reports H1 losses of £85.6m in 'worst year ever'
Hiscox has announced a half year pre-tax loss of £85.6m, leading the insurer to claim the year so far has been the costliest year ever for the insurance industry.
This time last year, Hiscox announced a pre-tax profit of £97.2m. The half-year's combined ratio was 116.9%, up from 93.6%.
Hiscox claimed its UK business had made a record profit of £25.2m, up from
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