Hiscox rides Storm Katie
HISCOX weathered the impact of Storm Katie as it posted a 10 per cent rise in premiums in the first quarter to £640.5million.
The Lloyd’s insurer said it had “minimal exposure” to Storm Katie, which battered large parts of England in March, as well as to devastating earthquakes in Japan and Ecuador. It also expects a “manageable loss” from the Alberta wildfires in Canada.
Its UK business has seen good demand from businesses for cyber and data insurance cover, while its investment result was 0.5 per cent after a “volatile” period for financial markets. Shares rose 17p to 947p.