Hiscox eyes retail growth in light of record profits

Hiscox is to grow its retail business while using technology to cut costs, as it attempts to build on strong results in the first half of 2004.

The high net worth insurer posted record profits, with operating profit up 134% to £61.7m and pre-tax profit up 61% to £50.8m. The group said the combined ratio was up from 95.9% to 84.4% and that rates remained profitable in all the classes it writes.

It revealed plans to expand its retail network with a six figure marketing spend to create a UK

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