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Alberta wildfire will be a manageable loss for Hiscox

Posted On: May. 11, 2016 12:00 AM CST

Hiscox Ltd.'s CEO Bronek Masojada said that the ongoing wildfire in Canada's Alberta province will be a "manageable" loss for the insurer, reported Reuters.

Mr. Masojada said that it is difficult to estimate losses so far as the fire has not been controlled yet.

Hiscox also reported a 10% increase in gross written premiums to £641 million ($923.4 million) in the first quarter of 2016.

Hiscox said it had minimal impact from events such as Brussels terror attacks and Storm Katie that hit Britain in March.

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