Hiscox reveals UK growth in 2023 as group profits soar to record

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Hiscox grew gross written premiums across its SME and personal lines books in the UK by 2.4%, stripping out the effect of currency exchange, to $793.8m (£625.7m) in 2023.

The provider highlighted that art and private client business had returned to growth and that broker commercial had “continued to enjoy excellent retention”.

However, the insurer acknowledged new business growth was below management’s expectations particularly in the fourth quarter citing delays to opening up several broker distribution deals signed in the latter part of the year.

According to Hiscox, the appointment of Gareth Hemming, who joined as chief distribution officer in October, has

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