Hiscox reports £10m Deepwater oil disaster impact
Hiscox gross written premiums (GWP) increased by 6.4% in local currencies to £504.1m in the first three months of 2010.
In a statement, the insurer said it had “made a good profit despite the winter freeze, the Chilean earthquake, Windstorm Xynthia and recessionary related claims in UK commercial”.
It said: “The Deepwater Horizon oil platform disaster is a major energy industry event. Hiscox is a leading underwriter of offshore energy business but relative to our size we have a small exposure to this event. For an industry insured loss of up to $2 billion we anticipate net claims of less than £10m. We expect a
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