Hiscox's H1 results reveal a fall in profits

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In the insurer's interim results for the first six months of 2010, gross written premium fell slightly to £904.3m (H1 2009: £906m) while net premiums earned rose to £592.7m (H1 2009: £545.4m).

In a statement, Hiscox defended its profits, claiming that it achieved the £97.2m pre tax profit despite catastrophe related claims from the UK's winter freeze, Chile's Windstorm Xynthia, and Deepwater Horizon, and a lower investment return environment.

Hiscox's local specialist businesses have experienced

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