Hiscox premiums up 15% to May but 20% de-emption planned for 2008
International specialist (re)insurer Hiscox has reported an increase of 15% in gross written premium to May 2007 despite the weakening US dollar, but has announced a planned 20% de-emption of capacity in 2008 for its flagship Lloyd’s syndicate 33.
The firm wrote £590m over the period against £515m a year earlier. Hiscox said the main driver of growth has been catastrophe reinsurance where US-exposed risks are bucking an overall softening trend
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