Hiscox Q1 Premiums Improve

Source: FinanzNachrichten.de

LONDON (dpa-AFX) - Hiscox Ltd. (HSX.L), an Anglo-Bermudan insurance company, on Thursday registered a rise in insurance contract written premiums or ICWP for the first-quarter, supported by increased ICWP from Hiscox Re & ILS.

In addition, the insurance provider said that large natural catastrophe losses were within its expectations for the first-quarter.

For the three-month period, the Group posted total ICWP of $1.537 billion, higher than $1.420 billion, recorded for the same period last year.

ICWP from Hiscox Re & ILS stood at $497.4 million as against previous year's $418.1 million.

The investment income for the first quarter stood at $66.9 million versus last year's $98.1 million. The company said, 'duration was extended to 1.8 years to position the portfolio in anticipation of falling interest rates.'

Assets under management as of March 31 were $8 billion, flat with last year.

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