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Hiscox posts strong underwriting profit despite elevated losses

Posted On: Mar. 9, 2023 10:00 AM CST

British insurer Hiscox Ltd.’s underwriting profit increased by around $54 million year-on-year to $269.5 million in 2022, despite elevated losses from natural catastrophes and man-made incidents, Reinsurance News reported. This is the insurer’s strongest underwriting results since 2015. Its gross written premiums increased 3.6% year-on-year to $4.42 billion, while profit before tax fell 76.6% year-on-year to $44.7 million.