Hiscox chair hails discipline as GWP dips in first quarter

In the first three months of 2008 Hiscox UK and Hiscox Europe saw increases in gross written premiums of 13% and 29% respectively. Hiscox Global Markets and Hiscox International reduced, and overall, premium income is down by 10% to £321.3m from £358.4 in the first three months of last year.

Hiscox's fledgling Bermudian operation saw GWP drop by 38% to £30.9m, down from £48.9m a year earlier. However, the US operation saw premiums jump 43% to £5.7m, up from £4m a year earlier.

Robert Hiscox,