Hiscox nine-month premiums rise 12.9%
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Hiscox Ltd. posted gross written premiums of nearly £1.54 billion ($2.31 billion) for the first nine months of 2015, up 12.9% from the same period last year.
In its interim management statement for the first nine months of 2015, published Monday, Hiscox said the rate environment for insurance and reinsurance business “remains mixed.”
Hamilton, Bermuda-based Hiscox said rates are broadly flat in its retail businesses in the United Kingdom and United States.
In Europe, Hiscox said, rate increases in the single digits are being seen in commercial and personal lines.
In the London market, Hiscox said, rates are rising on certain lines such as casualty, small property and specialty auto business.
Rates for U.S. large property and upstream energy business continue to fall, Hiscox said.
Hiscox said it expected net claims of about $10 million from the explosions in the port at Tianjin, China, in August, and has reserved about e5 million ($5.37 million) for flood damage in the southeast of France in October.
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