LONDON (dpa-AFX) - Hiscox Ltd (HSX.L) reported that its first-quarter group gross written premiums rose 6.3% to $1.26 billion, as strong growth in Hiscox London Market, Hiscox Europe and direct and partnerships business more than offset planned reductions in the US broker channel.
Hiscox Retail's gross written premiums grew by 8.6% year-over-year to $663.9 million or 3.7% in constant currency.
Hiscox UK premiums grew 8.2% to $196.6 million or 1.8% on a constant currency basis.
Hiscox Europe's gross written premiums rose 20.4% to $217.3 million or 10.1% on a constant currency basis.
In Hiscox USA, gross written premiums were $237.8 million compared to $237.5 million in the previous year.
The company's business in Asia, DirectAsia, grew gross premiums 3.2% to $12.2 million.
Hiscox believes that paying a dividend is a priority in 2021 and will evaluate the position ahead of the interim results.
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