HISCOX POSTS HEALTHY 2015 PROFIT

Bermuda-domiciled UK and London market insurer Hiscox plc posted a slight dip in profit to £216m in 2015 from £231m in 2014. An absence of natural catastrophes helped the insurer and reinsurer produce a combined ratio of 85% in 2015, a slight deterioration on 83.9% in 2014. Despite a difficult market, Hiscox London Market business continued to grow profitably, benefiting from new teams and mergers and acquisitions. The UK retail business also grew and now generates 50% of income. Overall, Hiscox reported 10% premium growth to $1.94bn.